When you manage an HVAC service and repair business, you’re sending your employees into tight spaces to manage complex equipment, often in extreme heat. You need a wide array of insurance coverage so that you can protect your employees, your business, your equipment, and your clients.
Take a look at the insurance policies below, remembering that a full portfolio of coverage is the best way to protect your livelihood and avoid expensive incidents. Plus, the commercial insurance sector experiences massive losses every year, and you don’t want to become a statistic.
Types of Insurance for HVAC Businesses
When you consider how to insure your business, remember that your portfolio should begin with coverage that will address the liabilities facing HVAC technicians every day.
Common coverages for HVAC businesses should include:
General Liability Coverage
General liability policies generally cover injury, property damage, and other incidents related to the work your team does. This form of insurance also protects you against advertising injury, slander, libel, etc. If you wish to expand your protection, you may want to look at umbrella or excess coverage.
Business Owner’s Policy
A business owner’s policy pulls your liability for commercial property and personal assets into one plan that’s easier to manage and price.
Workers’ Compensation Insurance
Workers’ compensation replaces the income of injured employees when they’re hurt on the job. Plus, these policies cover their medical expenses, ensuring a proper recovery, aiming to help them get back to work. Moreover, these policies offer death benefits for the affected employee’s family in the event of a tragic accident or incident.
Commercial Auto Insurance
Every vehicle owned by your business should be covered by a commercial auto policy. If your employees use their personal vehicles for work, they should upgrade their insurance to a commercial policy—an upgrade to which you may contribute.
Contractor’s Equipment and Tools Insurance
Because your business uses a number of specific tools and purchases equipment routinely, you need insurance to cover all the devices on which you’ve spent a small fortune. Contractor’s equipment or tool insurance will help you either cover all these items under a blanket policy or schedule coverage for each.
Under scheduled coverage, you may assign a value to each item, ensuring that it can be repaired or replaced in the event of a loss.
Contact Buren Insurance Group for Assistance With HVAC Business Insurance
Reach out to Buren Insurance Group today when you need help with business insurance for your HVAC outfit. You can insure yourself, your employees, and your equipment at an affordable rate. Plus, you can layer other forms of coverage that will help you operate normally, even during trying times.