HVAC Contractor General Liability Insurance

Bodily Injury. Imagine that a worker falls off a ladder at a job site, or a customer trips over a loose cord in your main office. If you are sued, bodily injury liability insurance will help pay for your legal fees. In addition, this policy will also cover the injured person’s medical bills. This includes costs such as an ambulance ride, surgery, rehab costs, and more.

Property Damage. If you damage someone else’s property during an HVAC project, the property damage portion of your general liability insurance policy can cover it. Specifically, it will pay to repair damage at a customer’s home or at a job site. Here is an example: Imagine you install an air conditioning unit that leaks and causes water damage. In this case, your insurance policy would pay for the clean-up and repairs.

Products and Completed Operations. After completing an HVAC installation, things can still go wrong. This is even true when you are extra careful to do the job right. For instance, if a fire starts in a customer’s home and it gets traced back to your work, you could find yourself in a lawsuit. Fortunately, general liability insurance covers completed jobs and products.

Medical Payments. If a person gets injured at a job site or your place of business, medical payments coverage will help pay for their medical bills. With this policy, you get coverage for a variety of medical services, including hospital stays, prescription medication, stitches, physical therapy, and even lost wages if the person is unable to work temporarily.

Personal and Advertising Injury. Most business owners don’t think about how their actions can potentially harm a competitor’s reputation. For example, a third party might sue you if your advertising slanders or libels another HVAC company in your area. In this case, general liability insurance for HVAC contractors can cover your legal defense.

Damage to Premises Rented to You. HVAC contractors are often concerned about the accidents that can happen on a job site, where heavy machinery and equipment are present. But what about the space you rent for your business? General liability insurance can also cover damage to rented spaces. Imagine that an employee backs up a forklift into the side of the building. General liability insurance would help cover the repairs.

How To Get HVAC Contractor General Liability Insurance

As you shop for liability insurance, here are a few things to think about:

• Understand your risks. Firstly, consider the risks your company and your employees face when determining how much coverage you need. To get started, you can use our HVAC liability insurance checklist.
• Consider the policy deductible. The higher your deductible is, the lower your insurance premium will be. Therefore, you should choose a deductible that you can afford to pay out-of-pocket in the event of a claim.
• Choose an appropriate amount of coverage. Most insurance experts will advise you to overestimate how much coverage you need. It’s always better to have more coverage than less. However, if your policy doesn’t offer enough protection, you might end up paying out-of-pocket to cover a portion of the claim.
• Read the fine print of your policy. Every general liability insurance policy is different. As a result, make sure you read the details of your policy carefully to find out what’s covered and what’s not covered. It will help you avoid unexpected surprises if you have a claim.
• Ask questions before you sign. When you get any type of business insurance, it’s important to understand what you’re buying. Don’t be afraid to ask questions about anything you don’t understand. If you are unfamiliar with insurance terminology or certain coverage exclusions, ask an agent.