In an industry that works extensively on ventilation systems inside different residential and commercial properties, each project presents a varying risk level.
Accidents causing property damages or injuries can spark lawsuits against your business, quickly disrupting your operations. Having the proper risk management strategy in place is essential for your business’s survival.
Commercial General Liability Coverage
While carrying an heavy equipment, an employee damages the furniture of your clients property. You are liable to pay for the damages.
Your general liability policy would cover the cost of repairs for the damages done by your employee.
Business Owner’s Policy Coverage
A fire breaks out in your office complex and spreads to your storage area, destroying much of your equipment.
Your business owner’s policy would help you cover the the costs of repairs and to the property and damages to your equipment.
Commercial Auto Coverage
If any of your company vehicles are involved in an accident, you have to pay for third-party bodily injury, property damage, or pollution cleanup.
Commercial Auto policy would cover any expense for the medical care of the other driver and repair his property
Worker’s Compensation Coverage
While carrying a heavy equipment, your employee injures himself. He needs medical care and cannot work until he recovers.
Workers’ compensation would pay for his medical bills and a portion of lost income while he recovers and is unable to work.
HVAC Inland Marine Coverage
Some of your equipment and tools have been stolen from the job site. You will have to buy new equipment and fast so that you finish your clients work before or on deadline.
Inland marine insurance covers the equipment your employees take with them to perform their work.
HVAC Insurance is a policy package that provides financial coverage for the common risks associated with operating as an HVAC technician, such as third-party injury or property damage.
There is a significant amount of liability exposure involved in keeping customers’ homes warm, cool, and free of excess water and dangerous gas. Not only can this job cause injury to HVAC employees, but residential and business customers can become injured and property can become damaged, potentially resulting in costly lawsuits.
These are some of the related types of insurance we offer to protect industry professionals from risk.
General liability insurance – This policy covers basic third-party risks, such as damage to a client’s home while moving HVAC equipment. Bundle with commercial property insurance for savings in a BOP.
Workers’ compensation insurance – Workers’ comp is required in almost every state for residential and commercial HVAC businesses that have employees. It covers medical costs for work injuries.
Commercial auto insurance – This policy covers property damage and injuries involving HVAC company vehicles, as well as repairs to vehicles damaged by vandalism or weather.
Contractor’s tools and equipment insurance – This policy helps pay for repair or replacement of an HVAC contractor’s psychrometers, multimeters, and other tools if they are lost, stolen, or damaged.
Several factors will have an impact on insurance costs, including:
Having the proper insurance coverage for your business could provide the financial protection you need in the event of a lawsuit. Additionally, most property owners will be expecting their HVAC contractors to be adequately insured. Having a certificate of insurance may help you secure contracts on projects that require liability coverage.
If you’re unsure about the right kind of HVAC coverage for your business, speak to us and we can help customize a policy tailored specifically towards your needs.
It might be time to switch insurers whenever the service that your existing insurer provides doesn’t meet your needs. For example, if you have a poor claims experience or an unexplained rate increase, it might be time to consider other options
If you cancel a previous policy before a new policy is effective, you could run into some serious financial problems.
Contact us today to help you with multiple options to choose from.