What air conditioning contractors need to know about risk

Air conditioning contractors handle many different kinds of work. You might install or repair AC units, or maybe you do duct work and vent work. You might work with air filtration and ventilation, or perhaps you also work with heating units. Maybe you do all of the above! At any rate, you’ve got your fair share of risk that you need to be protected from. The first step of combatting and mitigating risk is understanding where that risk comes from, so we’re going to go over where you should be on the lookout from risk.

Air conditioning contractors and risk mitigation.

Property risk.

You might have your own office location from which you run your business, and you’ll have to protect your business from potential losses like fire and burglary. Maybe you keep products or material there, or perhaps you have equipment that you store at your location. If you do any sort of welding on your premises, that could significantly increase your fire risk. Hot sparks, metal, flammable things – what could go wrong? Anyway, consider your particular business and identify the property risks that you face.

Inland marine.

Your inland marine risk comes from the necessity of transporting your product to and from your location and job site. You’ve probably got a lot of contractor’s equipment that you need to take with you – you might lease or rent this equipment. To mitigate your risk, make sure you take steps to protect your equipment, machinery, tools, supplies and so on while they’re at the job site. Some air conditioning contractors use cranes to lift units if they do commercial work, and if this is something you do you need to make sure this equipment is regularly inspected for safety.

Premises liability.

You might not see too much premises liability unless you have retail sales and you’ve got customers coming and going. However, you probably do have some off-site exposures. Items could fall, welding equipment could cause fires, and your employees may work with other contractors. You also need to think about your waste disposal exposure and ensure that you’re getting rid of any potential hazardous waste properly.

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Completed operations.

It’s probably the last thing you want to think about, but what if a unit malfunctions? That could be due to faulty manufacture or faulty installation. To lessen the risk of your completed operations, make sure that you have extensive quality control measures in place. Train your employees well, and make sure that your workers have the appropriate background and experience for the job they need to do. Be aware of “sick building” exposures, too; this can arise when the air isn’t circulating or filtering properly through the building.

Automobile exposures.

Well, you’ve got to get your materials and machinery where they need to go, right? To manage your automobile exposure, consider the training, experience, and driver’s records of your employees. You’ve also got to take care of your business vehicles, too, with proper maintenance.

Workers’ comp.

Your employees also face the risk of injury when they’re working. What if they have a fall? Or what if something falls on them? They’re also using some potentially scary machinery and equipment. As they’re installing sheet metal for ducts and vents, they could get cut. Anyways, the point is to be aware of the risks your employees face while they’re on the job and do what you can to lessen those risks. You don’t want anyone getting hurt on the job.

What insurance coverages do air conditioning contractors need?

Air conditioning contractors need to make sure they’re protected from the risks they face. Here are some recommended coverages for air conditioning contractors…

  • Business personal property
  • Contractor’s equipment
  • Goods-in-transit
  • Installation floater
  • Employee dishonesty
  • General liability
  • Umbrella insurance
  • Auto liability and physical damage insurance
  • Hired and nonowned auto insurance
  • Workers’ compensation insurance

How to get insurance as an air conditioning contractor.

Getting insurance might seem overwhelming. You want to make sure you have the right coverage, and you want to make sure you’re getting a good deal. But how do you do that? We’ll walk you through our quoting process.

  1. Let us know that you need insurance.

First of all, you’ve got to let us know that you need some HVAC contractor insurance. You can fill out our online quote form, give us a call, or message us. We’re here to help!

  1. One of our agents talks with you briefly.

Then one of our team members will reach out to you so that we can get to know your business. We want to make sure that we’re getting you the most accurate quotes possible – and that we’re helping you get the right coverage for you.

  1. We get some quotes.

We’ll go to the carriers that we work with and get multiple quotes for your insurance.

  1. We present your quotes.

We’ll go over your quotes with you and address any questions you have about them. Then we’ll help you through the next steps of finalizing your insurance coverage.

  1. We’re here to help.

We don’t stop there – we’re available to assist with any questions, coverage needs, and so on that you encounter as you’re running your business. We won’t leave you high and dry!

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So, get started with your quotes by filling out our online form, giving us a call, or messaging us on LiveChat.