All businesses face risks to varying degrees. HVAC contractors are no exception. To ensure the business and employees are protected, you need insurance. InsureWise LLC can help customize your insurance coverage based on your budget and your needs.
What Does a General Liability Insurance Policy Cover?
Covering a wide range of HVAC accidents and risks, general liability is standard in most business owner’s policies. Should someone other than an employee gets hurt or you are held responsible for damaging property that doesn’t belong to you, you will have financial protection. Individual clients, project owners, and licensing agencies are often required to include general liability insurance. General liability insurance helps pay medical payments, property damage, as well as legal fees and judgments.
What are Contractors Errors & Omissions(E&O)?
Errors and omissions insurance, also known as professional liability, is another popular and useful insurance for business owners. This coverage defends yourself if you’re accused of making a mistake that causes someone to lose money. It could help cover related expenses to defend yourself or redo the job if you are accused of installing the wrong furnace filter or incorrectly calibrating a thermostat, for instance. Contractors E&O helps with professional negligence (actual or alleged), legal defense costs, as well as legal judgments.
Other Insurance for HVAC Companies
Additional coverage ideal for HVAC contractors includes Commercial Auto that assists with medical expenses, collision repairs, and rental reimbursement. Workers’ Compensation is for workplace injuries coverage that aids in paying for medical expenses, lost wages, and employer liability. Tools and Equipment Liability, and Commercial Property are coverages often associated with HVAC Contractor businesses.