HVAC Insurance: Types, Costs & Where to Find

Cody Cromwell
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HVAC Business Insurance Providers

Insurance for HVAC businesses is a necessity and helps protect you financially and reputationally if something does go wrong. How much you pay for your HVAC business insurance will depend on several factors, including size, employees, business location and number of customers.

If you are just starting out, you may already have a business insurance policy for your personal home. Consider that for a home owner or HVAC business owner, there are a few different companies for home or business insurance.

To determine which type of HVAC business insurance is right for you, take these factors into consideration:

Type of HVAC Business: This refers to the type of business you are in. Depending on what type of business you are in, you will have different types of needs. For instance, you may be in a HVAC plumbing or repair trade, or you may do both maintenance and repair work. Each type of business has different coverage options.

To cover the difference between your personal home insurance and commercial business insurance, the best practice is to use a umbrella policy and then separate it out. An umbrella policy, often called an All Risk or Umbrella Policy, can cover your personal home and your business as if they were separate policies. Some people refer to umbrella policies as Home & Business Insurance.

AP Intego

The truth is that your home’s heating and air conditioning system is quite expensive, but you have to make the most of it as winter approaches. One of the most important steps you can take in order to protect your home is to consider buying HVAC insurance from an independent provider.

In addition to protecting your home from all costs associated with your HVAC system functioning properly, you can also purchase renter’s insurance that includes coverage for your HVAC system.

Types of HVAC Insurance

There are two kind of HVAC insurance: homeowner’s and renter’s insurance. The type of insurance you need depends on whether you own or rent your house and in some cases, if you live in a community or on a farm.

If you rent your house, you will need to purchase renter’s insurance in order to protect your home’s HVAC system from any damages or accidents. Your renter’s insurance will also cover any medical expenses and replacement of your personal property, such as your air conditioner, furnaces and more.


If you are interested in HVAC coverage, the choice before you is not always clear. (If you are a homeowner and want to switch to a higher deductible insurance since your current plan is too expensive or with a competitor, you will have to get a policy with a different deductible.)

There are insurance carriers who offer good deals on HVAC insurance that comes with a 24 hour furnace emergency service. But there are also many options out there which may require you to sacrifice on certain benefits.

This is where CoverWallet can help you. With CoverWallet, you can compare your HVAC insurance plans and prices with multiple insurance carriers on Depop.

If you are interested in HVAC insurance coverage, the choice before you is not always clear. There are insurance carriers who offer good deals on HVAC insurance that comes with a 24 hour furnace emergency service. But there are also many options out there which may require you to sacrifice on certain benefits.

This is where CoverWallet can help you. With CoverWallet, you can compare your HVAC insurance plans and prices with multiple insurance carriers on Depop.

HVAC Insurance: How much should you pay for your HVAC coverage?

Homeowners with HVAC insurance should check with their providers to see what the cost of coverage is. They may also want to compare their costs with local companies.


Is an HVAC contractor with a broad basket of services to maintain your HVAC system. At the same time, these services are all delivered by a company that is based on the philosophy of using technology and innovative solutions to its advantage.

Hiscox understands that a comfortable and well protected home is what keeps you safe and allows you to live a happier life. And that’s why your heating, ventilation and air conditioning system plays a crucial role in your everyday life. That is why the company wants to make your system as efficient as possible and to provide you with a stronger and longer-lasting unit.

That’s why at the same time, you get the timely and meticulous HVAC service and system repair services available with us.


Insurance: The Basics

For travelers, there’s only one thing that will make the trip more pleasant – knowing you’re covered for an emergency. The sound of your voice is important when you’re in a foreign country, and getting the right insurance is an easy way to maintain peace of mind.

Travelers Insurance is one of the most logical types of insurance as it covers all kind of risks that are involved in traveling. This includes theft, loss of baggage, medical emergencies and much more. This is why I highly recommend travelers insurance for anyone who frequently travels. It not only protects you personally, but also your loved ones.


HVAC Insurance: Best Way to Protect Your Home

Many people feel that their home is a safe haven from financial hardship, but that can be easily proved or disproved with a faulty furnace. Life’s unpredictable, and if you don’t protect yourself against misfortune, disaster can strike at any time.

There’s nothing you can do to prevent a fire from breaking out or a lightning bolt from striking your home and causing you extensive damage, but an HVAC insurance policy could help begin repairing it without having to resort to a high-interest loan.

Here’s a breakdown of the ins and outs of HVAC insurance to help you make an informed decision about how much coverage you need and where to find it.

What Is HVAC Insurance?

An HVAC insurance policy provides benefit reimbursements for repairs and replacements associated with heating, ventilation, and air conditioning (HVAC) systems. Depending on the policy you choose, you will receive payments for the cost of repair or replacement of various components of your system, like the air conditioner, furnace, and other related equipment needed to keep your home comfortable at all times.

Types of HVAC Insurance

HVAC insurance is a type of liability insurance to protect you in the event your heating, ventilation, air conditioning system is involved in an injury-related incident. General liability (also called multiple peril) is one of several types of insurance your homeowners/renters insurance will likely provide. It covers damage to the structure and contents of your home or apartment if an event is covered under your policy.

HVAC insurance is a personal property policy. This means that the coverage is written on you as a person and not on the specific HVAC system you own. If you bought your home and invested in an HVAC unit, you may need to invest in another HVAC policy to protect you in the event of a claim.

General liability is more expensive than specific coverage and is taxed more heavily than other sections of a homeowners or renters insurance policy. Owners of a larger home are most at risk of having their home claimable as they have more things to protect. However, most homeowners and renters policies will extend the coverage for those with general liability, giving them more peace of mind and more protection.

The best way to get more coverage for an HVAC claim is to choose the right coverage level. By looking at your home or rental insurance policy, you can choose a higher coverage level that will cover even more of your property in the event of an air conditioning system issue.

Commercial General Liability

This is the kind of insurance that’s needed when you’re running a business. Maybe you own a restaurant and need protection from injuries and property damage that may occur as a result of malfunctions in your HVAC. Or perhaps you’re in construction, and your business is subject to the risks of the construction sites you employ. Whatever the situation, commercial general liability insurance will protect you from the kinds of incidents that come from standard business operations – the type of thing that most insurance policies cover.

As your business grows, so does your risk if it’s not properly addressed. General liability insurance is one way to manage those risks.

Workers’ Compensation Insurance

And What is HVAC Insurance?

The commercial air conditioning and heating industry is one of the most dangerous by nature and therefore is often required by the state to have workers’ compensation insurance. Workers’ compensation insurance is something that every business needs to have in case of any injuries which may arise from a physical altercation or health problems that may occur during the course of one’s work. Here’s a good example: A worker, while heating or cooling a space, may inadvertently touch metal piping containing cold water on the heating or cooling system and suffer a severe injury. This would be covered by the workers’ insurance company. The same event happening to an employee that was not working and was, while at home or some other public place out of work, would not be covered by the company.

As you can imagine, this helps the worker to take a break from work, treat the injury and return to work relatively quickly.

Now let’s discuss HVAC (heating, ventilating, and air conditioning) insurance. In this case, the coverage is not for the worker but the contracting company. So it applies to the company’s employees and workers as well as the company itself.

Commercial Auto Insurance

The National Safety Council reports that every two minutes someone is injured in a workplace emergency. These are high-risk jobs that are hazardous to workers’ lives, and increasing numbers are suffering workplace injury. While accidents do not necessarily have to happen, protecting yourself against workplace injury is as important as protecting yourself against illness and injury.

The National Safety Council recommends you have at least two workers’ compensation insurance policies which cover you in case of work-related accidents and injuries.

Workers’ compensation insurance protects businesses of all sizes, and these policies provide a continuous level of insurance protection for your employees’ health and safety. These policies are paid for by the employer.

Your workers’ compensation insurance policy will consist of three different types of policies, one to cover employees, one to cover supervisors and, if you have more than 10 employees, a third policy to cover independent contractors. Each policy will cover specific areas of potential accident, injury, or illness.

The different types of policies provide varying levels of liability coverage. Liability coverage is optional and depends on if you need the protection more than other forms of insurance. Since the policies share a pool of money for expenses, each policy may need to be of sufficient value to maintain the organization’s insurance.

Equipment Insurance

The health and safety risks related to heating and air conditioning systems can be quite significant, especially when you consider how long the systems have been in use and where you live. As a result, your homeowners insurance may not cover your home’s HVAC system replacement if it breaks down.

Thankfully, most major insurers will realize that the damage that needs to be repaired is of an appliance nature and that the accident is something that was not caused by weather or external hazards. If you have a business or property insurance policy, you might find that some of your coverage is already in place to cover things like HVAC accidents.

But if your home is under a standard homeowners policy, you may not have coverage for any HVAC repairs. If that’s the case, you’ll need to make sure that your homeowners insurance policy covers accidental damage to household appliances.

If you’re going to be making HVAC repairs, be sure to let your agent know so you can get special coverage or to make sure you’re covered for any changes that need to be made.

Inland Marine Insurance

Coverage for On-Board Machinery

One of the benefits to chartering a yacht is being able to travel to new destinations around the world. As a captain you may need to travel to various locations in order to make deliveries, complete repairs or conduct maintenance on your yacht. In addition to your own personal safety, you must be sure to take appropriate safety precautions with your crew, onboard guests and vessel.

Inland marine insurance is designed to protect a vessel and any on-board machinery from being damaged by war, civil disturbance, terrorism, civil commotion, siege, flood or other causes during transit, docking and unloading. Inland marine insurance provides protection against damages and losses of any kind to a vessel while in transit to or from a port under any condition.

Inland marine coverage guards against a variety of hazards, including storm damage, fire, subsurface damage, grounding and shipwreck. Most important, this insurance provides coverage for both the hull and the machinery, offering comprehensive coverage for your vessel whether in dry dock or underway.

One of the ways to secure property and liability insurance for a yacht, regardless of whether you charter or own the vessel outright, is to form an Inland Marine club. Here, yacht owners can share cost savings and spread liability and risks among the club.

Surety Bonds

What They Are and How They Work?

Surety Bonds cover the liability of a contractor or owner. A party that could be required to pay for damages as a result of poor workmanship or misrepresentation of materials will pay for the damages according to the terms of a bond. Bonds work when there is a contract for work between a service provider and a company. Typically, in business there is some type of contract between a property owner and a contractor.

The contract will list the materials and work that will be supplied by the contractor along with any materials that the contractor will serve or provide. The contractor will pay a fee for the work that he or she will perform such as an HVAC company.

The contractor will add a surety bond to be added to the contract. It provides the financial insurance necessary to cover the work that has been performed.

Oh MY WORD! This is so informative. Are you sure I can’t ask the questions I have, like how long do I refrigerant last? That will get me some really cool points.

Absolutely! We are glad you are interested in learning more about HVAC Parts. Keep asking, we will be here to answer.

Do Not Forget: Check out Our Frequently Asked Questions Page.

Errors & Omissions Insurance

Errors & Omissions insurance is often offered by the appliance dealer, but it’s important to weigh whether you need extra protection for your HVAC installation.

There are two mistakes you may wish to protect against – water damage and electrical damage.

Water damage can occur if the hoses on the furnace or air conditioning unit are too short or if the heating and cooling coils are accidentally wetted during the installation. You would probably wish to insure against this, but home owners insurance probably won’t cover this type of damage.

If, on the other hand, the unit is improperly installed, then there’s a strong possibility that electricity will be short circuited, possibly causing damage to the unit itself.

To avoid this, make sure the gas line, electrical wiring, and electrical switches are all properly connected to the proper outlets.

While dollars aren’t generally measured in the quality of the installation, HVAC installation errors can cause a great deal of additional stress for the customer, especially if the unit doesn’t work properly.

While errors and omissions insurance isn’t a necessity for HVAC installations, it may be worthwhile to make sure that your installation is covered.

Technician Umbrella Insurance

Umbrella insurance is one of the best types of homeowner's insurance coverages that you can purchase. Despite costing a little more than standard homeowner's insurance, umbrella insurance is worth the premium if you have a lot of valuable possessions that cannot be easily replaced. Umbrella insurance will reimburse you for certain expenses resulting from a loss of living things (livestock, furniture, fixtures, furs, et cetera) and for policies that don’t have any underlying coverage.

The main difference between tools of the trade and insurance is administration and where associated costs can be minimized. Umbrella insurance will cover the additional cost of covering your home, your belongings, and your animals in a loss. This excess category plan will help to cover your home and your belongings so that your property is restored to exactly how it was before your loss.

The cost of umbrella insurance coverage will depend on the amount of coverage that you purchase. Typically umbrella policies carry low deductibles that will help to keep your premium costs reasonable. Although not all homeowners can purchase umbrella insurance, these insurance policies should be seriously considered especially when you have excess property coverage.

Common umbrella insurance coverages:

Carpet & Floor – Damages to floors, carpeting, and floor coverings will be covered.

Electrical – Covers the damages caused by electrical storms such as fires, natural disasters (such as tornadoes), floods, and lightning strikes.

HVAC Insurance Costs

There are a lot of factors that determine the price of HVAC insurance. For one, the fuel efficiency of your system determines the equipment breakdown costs on which your policy is based. The maintenance costs of your system will also impact the amount you pay for coverage.

A very impactful factor is your system’s age. With age, most HVAC systems begin to show signs of wear and tear, resulting in a higher risk of equipment breakdown. The older a system is, the more likely it is to breakdown and the more costly the repairs will be.

The cost of your HVAC equipment can also have a significant impact on your premium costs. High-efficiency equipment tends to be more expensive, but it’s also more reliable. This means it will need less repairs over the course of a policy year, cutting down your HVAC insurance costs.

HVAC payment flexibility is another factor to consider when buying HVAC insurance. If you’re in a position where you must pay your HVAC bill in full each month, your policy’s extra features may be pointless. But if you can pay only a portion of the bill each month to bring your payments down, then certain HVAC insurance coverage – such as rental replacement expense – will be worth it.

Typical Annual HVAC Insurance Costs

HVAC is a major part of your home’s utilities – not to mention it requires a lot of upkeep and upkeep costs can be a bit pricey. That is why owning a home is much more expensive than renting and why your homeowners insurance normally covers the HVAC part of your home. However, the insurance coverage does not cover all HVAC-related expenses. Make sure that your home does not have a broken part – if it does the insurance company might not cover it (blowing or leaking heat/air units; for example).

The prices for these HVAC insurance policies vary from company to company and depend on the deductible you would like to pay, the length of your coverage (short and long term), and the location of your property.

The money you pay for the HVAC insurance can be used to pay off your insurance premiums. Your policy is a contract between you and the insurance company. You can cancel the contract anytime you are ready to stop your coverage.

How HVAC Business Insurance Can Save You Money

HVAC (Heating, Ventilation and Air Conditioning) repair and installation is a huge business, and as a result, it’s a very competitive industry. There are dozens, if not hundreds of major manufacturers and many more smaller companies that compete for your business. In order to stay financially solvent, insurance companies have created special policies for businesses with more than five separate HVAC units for installation or repair. Remember, a business with more than five units may need to file a claim for more than five separate repairs or installations and can happen in more than one location. The business owner may need to travel to any of these sites in order to repair or install HVAC equipment for a complete job. Business owners understand that accidents and injuries can strike any sound business at any place, and while HVAC dealers have their own policies, business owners can also have their own standalone business insurance policies to protect against accidents, injuries, damage or loss to their home or business stemming from a commercial or work related HVAC accident. Business owners can purchase one to cover all business related risks.

How Skipping HVAC Insurance Can Cost You Money

HVAC (heating, ventilation and air conditioning) insurance policies give you coverage for pretty much everything that effects your heating, ventilation and air conditioning systems. This can range from damage to your HVAC equipment, to liability to situations like tree damage.

Most policies also cover service or repair (or both), meaning that if your HVAC system breaks down, you can call your insurance company and get it fixed quickly and inexpensively. This can save your company money and can save you from dealing with the pain of frozen pipes and a hot-but-not-quite-working HVAC system.

If you don’t have an HVAC insurance policy, you’ll likely be paying more for broken HVAC systems to be repaired or replaced. You might be able to skip HVAC insurance coverage if you have a very simple system or very low base rates. But if you have more complicated systems that need service or repair every year, you’ll likely want to have an HVAC insurance policy in order to have the peace of mind.

How to Get HVAC Business Insurance

When it comes to your business, you can’t just stop and stand still. A lot has to be done to keep things working between the pipes, and you’re going to need quality insurance to protect both you and your business owners from financial loss.

One thing that your business can’t afford to be without is an insurance plan to protect against loss of income due to damage to your HVAC system. A major HVAC problem could cause a lack of air conditioning or perhaps hot water and could potentially cost your business income. Thankfully, there are several HVAC insurance options to help you achieve this.

Having an HVAC insurance plan in place can get you the immediate relief you need by restoring cooling and heating services to your offices.

Ways to Fill HVAC Insurance Needs
There are several ways to fill your HVAC insurance needs to keep your business going. You can:

  • Keep a HVAC Policy in place, even if your policy is standard to protect against damage
  • Replace your entire heating system at a much lower cost than the cost of repairs
  • File a claim through the HVAC insurance company if it’s been damaged or when your policy expires
  • Protect your business from a catastrophic disaster with Business Interruption insurance

Inquire About HVAC Insurance Coverage

Since HVAC equipment costs money to install and buy, insuring it is a prudent business move. And since HVAC equipment is on your home or business property, it is best to have the equipment covered by a homeowner’s insurance policy or business liability insurance policy.

The National HVAC Insurance Guide calls home owners insurance policies –the single most common type of insurance.” It also reports that HVAC contractors may obtain some of their HVAC coverage from Homeowners policies. On the other hand, many insurance companies that specialize in property and casualty protection will typically only cover equipment and systems.

Therefore, check with both your home owners insurance company and your contractor’s insurance company whether you have coverage for HVAC equipment and systems on your home. If neither provides protection, you will need to purchase HVAC insurance.

On a related note, unless you are paying for self-insurance, you will want to ensure that you buy HVAC insurance that exceeds the protection limits of any homeowner’s or business liability insurance you may have. This way if an unexpected catastrophe develops and your insurance company has to send damage adjusters, you will have sufficient coverage to pay for the costs incurred.

Provide Necessary Information

Your home insurance policy plays a vital role in offering you the vital protection that you deserve, you are not able to properly protect your property without the right information. Every homeowner is prone to unfortunate repair projects that cost a lot of money. Your main objective is to provide enough information to make your insurance company understand that the project was necessary. Insurance companies assign higher risk and higher cost projects to homeowners who do not make it clear about the need to do the project. In this regard, it is important to recognize the following aspect of a policy to be able to successfully file a claim at an affordable cost.

Besides the cost of the insurance, it will be based on the deductible, the percent of the house that needs to be repaired, and the location. Many homeowners do not have the required knowledge about their insurance policy. They may think that the insurance is only to protect them against damages to their property. Eventually, homeowners have to pay a higher amount of money to repair the damage. As a result, they are not aware of the type of insurance for your home, as well as the costs of each type. Being a homeowner, it is highly necessary to know how to minimize your insurance coverage and protect yourself from paying more than you should. Today, most homeowners are aware of the basic types of insurance. These are the dwelling coverage, the standard coverage, the dwelling and personal coverage and so forth. Each type of coverage has different benefits and different costs.

Negotiate Insurance Terms

When it comes to buying insurance, low prices are not necessarily a good thing. You don’t want to get stuck with the cheapest policy you can find. You want to get the best coverage for your money, especially for items like your home’s HVAC system.

There are a lot of variables to consider when deciding which HVAC insurance policy is ideal. The coverage you require, the deductible amount, the contract term, the level of maintenance or repair service you require, and the type of contractor that you want to work with are some of the considerations that come to mind. You also need to make sure that your contractor’s insurance policy includes coverage that parallels the HVAC insurance policy you’re thinking about getting.

Negotiating the cost of your policy will depend on the level of care your HVAC contractor demonstrates towards your home’s air conditioning and heating systems.

The level of maintenance and repair your contractor performs on your HVAC system will determine the cost of your HVAC policy. If your contractor makes regular visits to your home to check your HVAC system for damage and to maintain it, the cost of your HVAC policy may be lower. If your contractor does not do regular maintenance, your policy’s cost will be higher.

Sign Documentation

When you get your new heating or cooling system installed, it’s usually accompanied by a complete set of signed and dated documentation. These documents should outline important operating information for the installer’s use in providing routine maintenance to your unit.

But these documents are also an important part of your HVAC insurance policy. The signed paperwork may contain important information about the unit itself or your service contract.

Some examples of information you may find listed in your HVAC insurance policy are:

The heating and cooling system’s exact make, model, and serial number.

Any special details about the unit, such as place, date, and exact make, model, and serial number.

The manufacturer of any equipment that does not come standard on the unit.

Any valuable information about the unit (or any other information) that the installer may need.

If you’re signed up for service contract coverage, you’ll also have a copy of the service contract included with your policy paperwork. It’s important to sign and date this document as well.

Benefits of HVAC Insurance

The heating, ventilation and air conditioning system of a home is a complex machine that should be carefully maintained. It can be difficult and an expensive process to repair a faulty HVAC system. This is why many people choose to protect themselves against these expenses by purchasing an HVAC insurance policy. Thankfully, insurance providers are now more consumer friendly and are willing to work with you on a customized policy that will satisfy your home’s heating and cooling needs.

If you are considering a policy for your HVAC system, you should know what these policies typically cover and what you’ll be paying for them.

Types of HVAC Insurance:

There are two types of HVAC insurance policies: Replacement and Maintenance coverage. Replacement coverage is meant to pay for the repairs of your HVAC system in the event of a major repair, while maintenance coverage is typically designed to help keep your HVAC system in good condition and to help reduce the cost of maintenance.

HVAC Maintenance Coverage:

Most HVAC maintenance coverage options will include a deductible (which is the amount of money you have to pay for the policy before the insurance will pay anything). Most maintenance coverage policies also cover preventive maintenance, such as cleaning your air filters.

HVAC Replacement Coverage:

Protects You From Your Mistakes

Most offers of free HVAC lessons come with a catch. The class may be free, but the company may be trying to sell you a new HVAC unit or service. These companies offer homeowners considerable savings, but for a price.

You’re really paying for the peace of mind they provide. If you’re not careful, you could end up spending a lot of money when it comes time for maintenance or repairs. Homeowners Insurance can protect you from your mistakes.

Most insurance companies ask questions about your home’s heating and cooling system and bills through a questionnaire. It’s packed with questions to help determine your risk. What type of HVAC system does your home have? How often do you check your system? Do you have a high expense account? Did you know that your HVAC system is a major factor in your insurance settlement?

The Bottom Line: When you purchase a home with a new HVAC system, your homeowner’s insurance may not cover some components of the HVAC system. It is important to discuss any potential gaps in your insurance coverage with your home insurance agents.

Helps You Get Larger Projects

Here at AIA Houston, we’re always going on about the importance of the HVAC system – when it’s working properly, your system keeps your office or commercial building cool or warm, and your employees comfortable. But what happens when it’s broken? That’s when you’d want to call upon a qualified HVAC contractor.

Is HVAC Insurance worth it? Many, including contractors, say “yes” because the risks and liability are so high. But what are the costs? And how do you find a contractor that can work with you and your insurance company?

Knowing the answers to these questions can help you make the most of your HVAC insurance.

Gives You Confidence to Make Recommendations

HVAC installations are usually slow and time consuming and sometimes it is easier to outsource them. It is one of the factor that workers always consider. Hiring contractors to install HVAC system is a wise decision because it gives you enough time to relax and make other arrangements and can also make it easy for you to incorporate HVAC plans into your home design. However, it is not easy to find the best contractors. There is a good chance that they might not have a good reputation and they might resort to potentially dangerous activities. Therefore it is important to find a few contractors that are reputable and carry out their duties.

Many people prefer to save money by selling HVAC system they already have. This approach involves hiring contractors to install the new HVAC system. Most contractors use the old duct work and the duct work only becomes sales income. The contractors rarely remove the duct work and most of the time, it is just necessary to replace the duct work. There are many things that you need to know about HVAC systems such as types, principles, responsibilities, components, names of parts, principles, troubleshooting, maintenance, repairs, testing and replacement. It is time consuming work to learn all these things and thus it is a good practice to get some HVAC insurance.

HVAC insurance policy :

Protects You From Employee Mistakes

If you’re a department manager, you’re probably well aware of how tricky improper HVAC installation can be. In the case of an employee mistake, you’re tasked with not only damages and costs, but also replacing the HVAC system.

Unfortunately, employees fail to do their job correctly 82% of the time. When it comes down to it, replacing the HVAC system is time consuming and can cost you a significant amount of money. For this reason, it’s important to invest in HVAC insurance coverage.

However, it’s important to note that HVAC insurance coverage is not one size fits all. In fact, there are three different types of HVAC insurance, each one with a separate price and coverage.

Here’s a brief overview of each type of HVAC insurance along with tips on how to find the best coverage for your specific situation:

Where Do Rates Start?

Bottom Line

In order to make the basic calculations in this post an easy task, all you need to do is divide the cost of your insurance by 10. If you would like to find out the true cost of your policies, you will need to do your own calculations, although I would highly encourage you to consider your financial safety before it’s too late. It is unwise to rely on an insurer if they can’t afford to pay.

It’s important to stress that not all companies are equal when it comes to HVAC insurance. Some companies may be excellent at paying claims, but extremely expensive and potentially costly to insure. Here is a quick set of questions to ask when requesting a quote: … What is your maximum policy amount?

  • What is your claims payout ratio?
  • What is their standard deductible amount?
  • Are you a preferred supplier?
  • Do you offer public liability cover for all installed heating and cooling equipment? Keep these questions in mind and obtain a quote from a number of reputable companies before you decide.