HVAC working outside on air conditioning unit

What You Need to Know About Insurance for HVAC Contractors

When things go wrong with HVAC systems, HVAC contractors may be at fault in a lawsuit. To protect your business in these situations, it is beneficial to get HVAC insurance. Do you want to learn more about business insurance and HVAC contractor insurance?

Keep reading to learn more about the types of insurance for HVAC contractors, the types, and policies available!

Common Types of HVAC Coverage

When you are selecting HVAC insurance for your business, there are many things you need to consider. By understanding what each type of insurance covers, you can choose the coverage that is best for your business! Here are a few of the most common types of HVAC insurance coverage options.

1. General Liability

A type of insurance that every HVAC company should have is commercial general liability insurance. This type of insurance will cover any bodily injury or any damage to property that comes from your business.

This coverage will help you with accidents and will help protect your business!

2. Excess Liability

Another common type of insurance you should consider for your HVAC company is an excess liability policy. This policy will improve the general liability policy that you already have.

For example, you can purchase a specific amount of excess liability insurance that will be additional coverage for your other policies.

If you have a larger business or more assets, this will determine how much excess liability you should purchase.

3. Commercial Auto

If your HVAC company has a van, truck, or another type of commercial vehicle, you should have commercial auto insurance. This auto insurance covers liability that comes from auto accidents.

There are differences between commercial auto insurance and personal auto insurance. It has to do with the person who owns the vehicle. A commercial auto vehicle is one that is owned by your business and is driven by an employee.

4. Equipment Insurance

A very important type of insurance policy you should consider getting as an HVAC contractor is equipment insurance. As a contractor, you will have many kinds of expensive equipment that may be difficult to replace.

If you have any tools that are lost, stolen, or damaged, having a policy for equipment insurance will help you with the cost to purchase new tools.

This type of policy can save you thousands of dollars in damaged equipment and will make sure you can continue working even after you lose or break equipment.

5. Workers’ Compensation

Workers’ compensation is a type of insurance that is required for any business. Depending on the state you live in, the amount of coverage you need will vary.

If you or your employee is injured while working, workers’ compensation will help take care of their medical bills and expenses. It will also help cover the lost wages of you or your employee while you are too injured to work.

There are many common issues and accidents that occur to HVAC contractors. They face the threat of electrocution from the wiring and equipment they use, they may be exposed to asbestos, and they can even get burnt from the hot equipment they work with.

While there are many other types of insurance you can look into for your HVAC company, these are the most useful types of insurance for HVAC contractors. When you talk to an insurance agency, they can help you identify which policies your company needs!

Tips for Selecting Insurance for HVAC Contractors

The first thing you should do when selecting an insurance agency for your HVAC insurance is get quotes from several agencies. This will help you know what kind of coverage you can expect and how much you can expect to pay for your policy.

Not only will this help you know what your policy will cover, but it will also help you shop around for the best price for your insurance.

It is also vital to find an insurance company with a good reputation and a good company history. This will make sure you are doing business with a trustworthy organization.

It will also help you know whether the company will be easy to work with. When you have to file an insurance claim, the last thing you want is to deal with an insurance headache. Find a good company and you won’t have to worry about these issues that could have been avoided.

Finally, you may want to consider asking acquaintances or other businesses for referrals. This will give you confidence that your insurance company will take care of your business needs.

By following these tips, you can feel safe knowing that you will get the best insurance possible for your HVAC company and that your company will be protected in the case of an accident.

Contact an Insurance Agency Today!

There are so many kinds of HVAC insurance available, so it is important to do your research before deciding what coverage you need. One thing that can help you decide what kind of HVAC insurance you need for your company is talking to a professional at an insurance agency. They can help find the right policy for you!

If you are looking for a reliable insurance agency, Central Jersey Insurance Associates can help. Whether you need help with professional liability coverage or commercial general liability insurance, we can help you find a policy that works for your company.

Contact our team today to learn more about our services and to get an insurance quote for HVAC contractors!