HVAC Insurance in Virginia
What is HVAC Contractor Insurance?
The heating and air conditioning industry is full of opportunity, but there are certain risks that come with that opportunity. From liability to property perils, HVAC contractor insurance helps Virginia businesses in this industry protect themselves from a variety of risks that they’re exposed to.
HVAC contractor insurance is specialized commercial insurance for HVAC service providers. So that policies can meet multiple risk mitigation needs, these policies normally come as package policies that combine coverages together.
What Virginia Businesses Should Have HVAC Business Insurance?
Most Virginia HVAC service providers should consider HVAC business insurance. Businesses can be dangerously exposed to risk if adequate insurance isn’t in place, and this tends to be the most appropriate type of policy for these businesses. In particular, the following businesses may want an HVAC business policy:
- Residential HVAC service providers
- Commercial HVAC service providers
- Air conditioner and furnace retailers
- Air duct cleaners
- HVAC technicians who work as sole proprietors
In some cases, businesses provide HVAC services alongside other services (e.g. plumbing or electrical work). These businesses should work with an insurance agent who specializes in HVAC business insurance, to determine whether this or another insurance option is best for them.
Are Technicians Covered by Their Employer’s HVAC Insurance?
HVAC service providers generally carry insurance that extends to their employees, so long as the employees are performing work that’s within their normal scope of duties. Therefore, technicians who only work for any employer usually don’t need to purchase their own policy.
When technicians moonlight on their own, however, their employer’s coverage is unlikely to cover this additional work. Any work that’s done outside of a normal job may require an additional HVAC business policy. An experienced agent can check whether an employer’s policy would provide coverage in a specific situation.
What Coverages Are Included in HVAC Business Insurance Policies?
HVAC business policies normally come with a variety of coverages that offer a combination of property and liability protections. While the exact combination of coverages can vary, many policies offer protections like the following:
- General Liability Coverage, which often covers common accidents, defamation lawsuits and false advertising suits
- Commercial Umbrella Coverage, which often covers expensive lawsuits with a secondary layer of protection
- Commercial Property Coverage, which often covers owned facilities, and tools and equipment while at a business’ facilities
- Contractors Tools and Equipment Coverage, which often covers tools against theft and/or damage
- Inland Marine Coverage, which often covers tools and equipment as they’re moved between job sites
- Commercial Auto Coverage, which often covers owned vans and trucks
How Much Does HVAC Business Insurance Cost to Purchase?
Premiums for HVAC business policies are based on numerous factors, and they vary for this reason. A business’ location, size, services offered and claims history are just a few of the items that can impact cost.
Even with variances among policy premiums, however, this insurance tends to be affordable. It’s almost certainly more affordable than the potential cost of a major claim.
How Can HVAC Service Providers in Virginia Get HVAC Contractor Insurance?
For assistance with insuring a heating or air conditioning business that’s located in Virginia, speak with the independent insurance agents at Hampton Roads Insurance. Our agents can help you compare quotes from multiple insurance companies since we’re an independent agency, and we’ll walk you through the various options so you can select the best available option. With our agents’ assistance, you can be confident that your chosen HVAC contractor insurance policy provides quality protection for your business.
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Newport News, Virginia 23601
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