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HVAC mistakes lead to health problems for your clients and legal troubles for your business
Your services give clients a better home — a home free of allergens that could hurt their children or pets. Your work is essential to a client’s happiness and health. However, things can get off-track. Ensuring you have the right HVAC insurance coverage protects your business from worst-case scenarios.
A client might believe you were negligent when you performed routine maintenance on their home’s heating and cooling system and sue. Even if it’s not your fault, you’re still liable to legal defence costs. APOLLO Insurance provides bespoke insurance plans for HVAC contractors. We also make HVAC insurance costs affordable.
We understand that you’re excellent at your job. You’re a professional, after all. But every HVAC technician remains at risk whenever they work on a new house or commercial property. Whether it’s a client that sues for a delay or it’s a mistake you own up to, you need to prepare for these business risks.
Some errors or delays are out of your control — your truck might break down in the middle of the road, or a family member might become suddenly ill and force you to cancel a job at the last minute. Professional liability insurance handles any lawsuits that might occur in the process. This means you can manage the legal fees coming your way without bankrupting your business.
You may also make mistakes and cause damage to a client’s property or injure someone else while on the job. These instances frequently result in lawsuits that the proper general liability coverage plan can take care of.
Commonly Asked Questions About HVAC Business Insurance
You might picture your job as what you do on-site. In reality, it’s much more. You’re a business owner who needs to manage bookkeeping, hire employees, and mitigate risks. HVAC maintenance is risky because minor mistakes can cause client harm, which can turn into legal liability and financial loss for your company. Insurance is ultimately a tool in your belt to mitigate these risks.
Your company might work with residential homes or with commercial properties. Commercial property owners are commonly corporations that aim to reduce their own risks as much as possible. Part of this mitigation is mandating you have insurance. As a result, the right liability insurance might be mandatory for your business to work with higher-paying, institutional clients with large buildings and HVAC systems.
Insurance is also for your personal health. By purchasing a policy, you receive peace of mind and worry less about the consequences of potential mishaps. You know your insurance policy can handle worst-case scenarios on your behalf. The right insurance lets you take time away from worrying and reinvest that mental capacity into running your business and a good night’s sleep.
Imagine you’re cleaning a residential home. After the job, you’re off on your merry way, and the client is satisfied and pays you for your work. However, a few weeks later, they call you stating their five-year son suffered a severe allergic reaction due to the dust and mould in their home. Your client even had to pay expensive medical costs to remedy their child’s illness. They now expect you to compensate them.
Even if the son’s allergies arose for another reason, you might be liable to upfront legal costs. Regardless of whether it was your fault, professional liability insurance can cover the fees.
In another scenario, suppose you’re working on a home. You drag your equipment inside and prepare to go about your work. During the maintenance, you accidentally trip on a cord and break an expensive art piece. Your client now expects you to compensate them $25,000 to replace it.
Such a cost could create a challenging financial situation for you and your business. However, general liability insurance can provide your client compensation on your behalf.
Now, let’s say instead of you tripping on your equipment’s cord, your client trips and injures themselves. This could leave them with injuries that require expensive physiotherapy. They may quickly look to you to pay for these medical costs. Again, general liability insurance and your insurance company can pay the fees on your behalf.
Contents insurance is also an essential part of your business insurance plan. If your truck is hijacked or robbed, you could lose thousands in expensive equipment. Your business won’t always be ready to replace everything. But the proper contents insurance can help purchase replacements if you ever face the destruction, damage, loss, or theft of your business assets.