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Liability insurance for HVAC contractors keeps you from potentially losing everything you own. Without this primary level of protection, you’re at risk of being sued for faulty or defective products you’ve sold. You’re also likely to have to pay enormous amounts of money if a client is ever injured at your worksite, or if you accidentally damage something while servicing their air conditioner.
Liability is a legal term that says you are at fault for something, but liability claims can arise even when you’re not. By not carrying this basic business insurance for your company, you leave yourself open to a wide variety of risks that can be quite difficult and costly to deal with.
General liability insurance for HVAC contractors is a basic level of business protection that all heating, ventilation and air conditioner professionals should have. It is critical to have because even when you try your very best to make sure nothing bad happens, surprises can come up. Sometimes things happen that you would never have dreamed of in your lifetime. Unfortunately there are times when claims of liability or fault arise, even when you’ve done nothing wrong. In those instances, you must still spend time and money dealing with those claims. Winning your case is only a partial success when these issues arise, because you are still out the time spent on your legal defenses instead of servicing your customers. There are many reasons HVAC liability insurance is a must have for your business.
The term bodily injury refers to physical harm that comes to customers, prospects or third parties. When someone gets hurt or becomes ill and states that the illness or injury was caused by your company, they are making a claim of bodily injuries. General liability (GL) for HVAC contractors is designed to take care of these issues as they arise, whether you are actually at fault for something or not. This is useful particularly when you’re at a client location, because you cannot always control the entire workspace. If a client trips over your tools or their children touch equipment that harms them, this section of your HVAC liability insurance will pay for the medical care and related recuperation expenses.
The property damage portion of a general liability policy for HVAC contractors is another important aspect of your coverage. If one of your clients claims that you damaged or harmed something of theirs, this section of your insurance comes into play. The client’s dog might have hurt its leg by jumping on your tool chest for example, and require medical care. You might accidently drop a new air conditioning unit and chip the tile floor. Despite the exact nature of the property damages, your clients will fully expect remuneration.
A handy section of general liability insurance is the medical payments section. This works very similarly to the bodily injuries coverage but it’s specifically designed for small and minor issues. It tends to be so useful because it often heads off more expensive potential litigation. This section of your policy will pay for the medical care expenses related to minor injuries and you may not even need to admit fault. If someone trips over a furnace covering that you set aside so that you could access the interior for instance, they might need minor care at an walk in clinic.
An unfortunate aspect of owning a business is that sometimes you can offend someone without meaning to. And sometimes a person will claim offense whether you’ve done something or not. Personal injuries are claims that people make when they feel you have tarnished their name or brand. They may claim libel or slander for example. Advertising injury claims can occur when an individual or company feel you have used their materials in your advertising without their authorization. HVAC liability insurance pays for your legal defense when these issues arise. It can also pay legal settlements or judgments awarded by the court.
Despite doing your best work at all times, once in a while there will be problems unveiled at a later date in the future. You may sell a new heat exchange unit to a customer and finish the installation, only to find out months later that the manufacturer is recalling the unit due to safety concerns. Your customer is likely to hold you responsible if something happens to them or their property due to that unit’s malfunction. HVAC general liability protects you from claims like this against products and previously completed services.
Premises liability is an important section of the general liability insurance for HVAC contractors, because things can go wrong. If you are renting, leasing or in control of a premises that is damaged by you or by a fire that you may be responsible for, this section of your liability insurance policy provides you with a number of helpful legal and financial options.