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Insurance for HVAC Companies: What are the Essential Inclusions?

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If you are thinking about taking out HVAC insurance then you might not know what to look for. At times, you may find some policies downright confusing too, and if you’re not careful you may find that this causes you major problems later down the line.

Worker’s Compensation

If your HVAC business has employees, then you may be required by law to have some kind of insurance cover. This type of cover will protect you if any of your team members gets injured and it will also help you to cover any medical bills or wages while they are out of work. The cost of this cover can vary depending on how much protection you want, but either way, it’s certainly worth having as part of your main policy.

Commercial Liability Insurance

Commercial or even general liability HVAC insurance will cover you for almost anything, whether it is property damage, injuries or moisture damage. It also covers you for installation or repair issues too, especially if they lead to homeowner injury or illness. This is generally considered to be the most important part of any policy because if you don’t have this level of cover then you may find that you end up paying a small fortune in expenses, should something happen.

HVAC Auto Insurance

When you take out this kind of cover, all of your HVAC vehicles will be covered and you will also find that you are protected in the event of an accident to. Sometimes you will be required by law to have this type of policy if you own or operate any kind of commercial vehicle. This policy will cover you if your work vehicle is stolen and it will also cover any tools, units or supplies you have in there. If you end up crashing your car on the road then you won’t have to pay out for the repairs on the other vehicle involved, but depending on the policy, you might have to pay for your own.

Property and Business Insurance

This type of policy will cover your tools, your materials and any other equipment you might have in order to install a HVAC system. Equipment can be costly, so it helps to have this type of cover in case your warehouse or storage unit gets broken into. This type of insurance may not be required by law, depending on where you operate, but it’s certainly worth trying to get it included as part of your policy if you can.

Errors and Omissions Insurance

E&O insurance cover will protect you for simple errors. For example, if an air duct is not sealed properly then this may lead to mould and this could cause the occupant of the property to fall ill. This would require an expensive level of remediation, but if you have this cover then you won’t be liable for it, especially if you employ technicians who might not always have their work supervised.

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