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Your Liability as an HVAC Contractor Business
You’re already aware of the potential hazards of being an HVAC business professional:

HVAC Contractors! Protect yourself and your business with HVAC commercial insurance. Request a quote today from Melendez Insurance.

Many small business owners mistakenly believe that the incorporation process (Inc, LLC, etc.) completely separates their business from their personal assets. Unfortunately, any prosecuting attorney can easily attack your personal assets. HVAC Contractors Insurance makes sure that you are covered no matter what type of legal entity you have chosen for your business.

There are other risks too. Expensive tools have a habit of getting lost, damaged or stolen – and, typically, at just the wrong time. What if you can’t afford to replace them immediately? There could be costly delays to the job. But if your HVAC contractors insurance includes tools and equipment coverage, your problems are solved.

And don’t forget that if you have anybody working for you—even on a casual basis—you’ll need workers compensation insurance as part of your business insurance for HVAC.

Melendez Insurance – Covering Chicago HVAC Contractors

You may be shopping around for insurance. But you don’t need to settle for the first HVAC contractor insurance policy that you find—and in fact, you shouldn’t do it. Comparing HVAC contractor insurance policies and premiums is just good business practice.

As an independent insurance agent, Melendez Insurance in Chicago (Pilsen) is able to research a variety of insurance carriers to find you the absolute best policy for your HVAC business.

HVAC Contractor Insurance: Chicago & Nationwide

HVAC Commercial Liability Insurance

Unfortunately for every business owner, the chances of getting sued have dramatically increased. A general liability insurance policy that is designed for H.V.A.C. contractors can prevent a legal suit from turning into a financial disaster by providing insurance protection in case your business is ever sued or held legally responsible for some injury or damage. Your policy may include:

Say you’re installing a replacement air conditioning system and you find mold in the water lines. If the customer finds mold in the basement a month later—even if there’s no connection to your work—he may blame you for not handling the removal of the old system properly. If that customer decides to sue for damages, HVAC contractor insurance would help pay for legal fees incurred while defending yourself and, if you are found liable, for damages and/or cleanup costs.

Workers Compensation Insurance for H.V.A.C.

Workers Compensation Insurance is designed to help HVAC contractor companies pay benefits to employees who are injured on the job. In most states, you are required to carry Workers Compensation coverage. Even in non-mandatory states, it can be a very good idea, particularly if you have many employees, or if they are engaged in hazardous activities.

HVAC Bonds

Bonds, including HVAC performance bonds, are commonly used in the construction industries as an assurance between the contractor and the client as well as between a general contractor and his or her subcontractors. If a contractor does a lot of bonded work, he can establish a bonding program with his agent and surety and only needs to go through the underwriting process once a year rather than on a per bond basis.

Inland Marine Insurance

Any HVAC contractor who regularly moves expensive materials, equipment, or supplies from one job site to another job site should have some type of inland marine insurance. This way, in the event of an accident, the goods or materials being shipped are protected separately from your auto policy.

Umbrella Policy

An umbrella insurance policy plugs holes in your existing coverage. It provides additional protection that kicks in when the primary HVAC liability insurance coverage has been exhausted. If an HVAC Contractor wants to carry limits in excess of $1,000,000 the umbrella liability policy is usually the best way to get this coverage. Limits up to $5,000,000 are common.

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