Massachusetts HVAC Insurance

You may have talented specialists working for your HVAC contracting business, installing and repairing heating, ventilation and air conditioning units. You may have the best customer service in the industry and a long list of loyal customers that call on you regularly. However, as with any small business, there are bound to be bumps in the road. Fortunately, you have access to quality HVAC Contractors Insurance that will help to smooth the ride.

In April 2014, a homeowner hired a heating and air company to install a unit insider her home. It took roughly a month for the work to begin and in November the job remained incomplete. The installation was only supposed to take days, but instead took weeks. In addition, one of the workers laid a hot tool on the floor, which melted the carpet.

In February of the following year, another heating and air company had to close down their business for a couple of days due to dangerous ice storms and freezing rain. For the first time in more than thirty years of business, workers were not able to get to their customers, which had a negative effect on the company's finances.

As it turns out, both of these companies were adequately protected with HVAC Insurance. Therefore, they were able to overcome these hurdles and their businesses continue to thrive.

In most cases, the contracts that you obtain will require your company to carry a certain level of general liability insurance as a part of your policy. This coverage is necessary to protect you against a wide array of claims that could leave your company bankrupt otherwise.

With sufficient general liability coverage included in your insurance policy from the Allan M. Walker Insurance Agency, your business will be protected against lawsuits as well as the related expenses. You will have the financial support that you need when a third-party makes claims against your business for any of the following:

• Property damage
  
• Reputation damage
  
• Physical injuries
  
• Advertising injuries
  

The term third-party refers to anyone that is not employed by your HVAC business. For example, clients, subcontractors, vendors and customers are all considered third-parties.

Imagine that one of your employees has just finished installing a new unit. Before cleaning up, he decides to go ahead and take a break for lunch. While he is out, the customer trips over one of the tools and breaks their foot. They have to go to the hospital to treat their injuries and you soon receive notification that your business is being sued for the cost of that treatment. The general liability portion of your HVAC Contractors Insurance policy will cover the legal bills associated to the lawsuit as well as any monetary awards that you are required to pay up to the limits of your policy.

Surety bonds may be required in order for your HVAC business in order to acquire the necessary professional licenses and building permits. In some cases, you will be required to purchase a permit bond when applying for a construction or building permit. You may also have to apply for a local permit prior to installing a HVAC unit for one of your customers.

Surety bonds are insurance agreements that you will receive the require license and agree to adhere to all appropriate laws. The insurance company agrees to pay for any legal fees related to lawsuits based on the work that you do.

Each time you apply for a new building permit, you will need to renew the license bond. Your insurance agent will be able to provide you with all of the relevant details associated with Massachusetts state and local requirements in order to determine the amount of bond coverage that you need to purchase.

Allan M. Walker Insurance Agency offers a business owners policy for small businesses, which is made up of the most important coverage options for one premium cost. This means that the Commercial Property Insurance and General Liability Insurance that you need to protect your business is available in one neat, affordable HVAC Contractors Insurance policy.

When you invest in this type of coverage, you will essentially save money on necessary coverage. These coverage types are combined into a single policy, making them available at a lower price than you would pay if you chose to purchase them separately.

Contact your insurance agent to find out the requirements for obtaining a business owners policy. All you have to do is complete the risk free quote form and a qualified agent will review the risks and requirements of your specific company to determine the coverage types and limit amounts that are most suitable for you.

HVAC contracting and installation is a highly competitive industry that is prone to accidents and legal action. Act now to make sure your company is protected, so you can continue to thrive when trouble comes your way.