Whether you’re turning up the heat or keeping the cool air flowing, your customers rely on you to make their home or work environment a comfortable place to be. The unique needs of your business should dictate the HVAC contractor insurance policies you hold and have adequate limits to protect you in the event of unexpected circumstances.
Your business likely has a home base of operations, but your employees are also traveling to various job sites each day. Visiting the homes and buildings of your customers carries specific risks. For example, what if a customer is hurt or damage is done to their property? A general liability policy protects you financially from lawsuits that may arise. In addition, an umbrella liability policy offers additional coverage limits that go beyond the basic policy.
You can’t serve your clients if you do not have the proper materials and equipment. If something happens to these, they can be costly to replace. Because of this, your property insurance policy must provide coverage for the tools and machinery used to perform your services. Also consider inland marine insurance to protect items in transit between sites or your headquarters.
Generally speaking, workers’ compensation insurance is required. Even the most well-trained employees can get hurt on the job, especially in an industry that can have them working on rooftops, in basements, and in multiple locations. For this reason, having coverage appropriate for the HVAC industry and the areas your business serves is essential.
Because your business requires your employees to travel and haul equipment, you likely have a fleet of vans, trucks, and trailers. Vehicles owned by the company should be covered under a business auto insurance policy if there is an accident. This policy would also cover damage due to vandalism or theft. If employees use their own vehicles for business, you’ll also want to purchase hired and non-owned auto coverage.
Employment practice liability insurance (EPLI) can cover expenses associated with defense against claims of discrimination, harassment, or unlawful termination practices. You’ll want to consider cyber liability insurance that can offer protection against hackers and data breaches. Professional liability insurance can pay for an attorney and court fees. On the other hand, it can cover damages that are associated with lawsuits alleging damage to a property due to negligence.
We’re happy to discuss the HVAC contractor insurance needs of your business. Contact us today for a consultation.
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