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What is HVAC contractor insurance?
HVAC work can be profitable work, but it also comes with some risks. Contractors must consider the risks of theft, accidents and other events, and generally should protect against them when possible. HVAC contractor insurance may help Texas contractors in this industry shield themselves from a host of risks that they face.
HVAC Contractor Insurance is a specialized commercial insurance specifically for HVAC service providers. Most policies are package policies that come with both property and liability coverages.
What Texas businesses does HVAC business insurance make sense for?
Most businesses offering heating, ventilation and air conditioning services in Texas should have HVAC business insurance. Not insuring can be extremely costly if something happens. Some examples of businesses that commonly get this type of policy include:
- Residential HVAC contractors
- Commercial HVAC contractors
- Furnace, heat pump and air conditioning retailers
- Mini split retailers and installers
- Air duct cleaners
- HVAC technicians who are self-employed
While this tends to be the obvious option for HVAC contractors, businesses offering HVAC and other services might need a slightly different type of policy. A knowledgeable insurance agent can help these businesses determine whether they can use a standard HVAC business policy, or need something with slightly broader coverages.
Does an HVAC contractor’s policy cover employees working for the business?
In most cases, any insurance that an HVAC contractor carries extends to technicians who are the business’s employees. This obviously requires that a contractor has insurance, which is something technicians should confirm.
Additionally, any coverage provided is usually limited to when technicians are performing work for the contractor. A contractor’s coverage likely doesn’t apply if technicians moonlight on their own.
If picking up side work, technicians probably should have their own insurance policy. An insurance agent specializing in HVAC business insurance can help technicians assess the risks that come with their side work, and choose insurance accordingly.
What insurance coverages should HVAC contractors look for?
There are a variety of coverages that HVAC business policies can provide. Some important ones to consider are:
Possible Coverages Available
- General Liability Coverage: Often covers basic accidents resulting in third-party injury or property damage.
- Commercial Umbrella Coverage: Often covers large lawsuits with a second level of protection.
- Commercial Property Coverage: Often covers any facilities, HVAC tools, equipment and supplies that an HVAC contractor has, usually while the items are at the facility.
- Contractors Tools and Equipment Coverage: Often covers HVAC tools and equipment in a variety of settings.
- Inland Marine Coverage: Often covers HVAC tools and equipment as they’re moved between job sites.
- Commercial Auto Coverage: Often covers vans and trucks that an HVAC business, itself, owns.
General Liability Coverage
Commercial Umbrella Coverage
Commercial Property Coverage
Contractors Tools and Equipment Coverage
Inland Marine Coverage
Commercial Auto Coverage
There are still many other coverage options that may be useful. A knowledgeable insurance agent can review these and other coverages that a contractor might want.
How much do HVAC contractors pay for insurance?
The cost of HVAC business insurance varies based on factors like business location, business size, what services are offered, and the business’claims history. In most cases, coverage can be quite affordable.
An easy way to find out how much coverage will cost in a particular situation is to compare policies with an independent insurance agent. Unlike many captive agents, independent ones are able to check customized quotes from multiple insurers.
Where can HVAC businesses in Texas find HVAC contractor insurance?
If you need help insuring an HVAC business that’s in Texas, contact the independent insurance agents at McKnight Insurance. Our agents will work closely with you to identify coverage needs, and then help you choose the best HVAC contractor insurance policy based on your business’s specific needs.
McKnight Insurance Services Independent Agency in Mansfield Texas
Get in touch with one of our team members for questions or quotes!
