HVAC technicians are some of the most sought-after professionals in Ontario. After all, they’re responsible for ensuring that Ontario residents are able to remain comfortable in their own homes. Unfortunately, HVAC techs have tons of responsibilities on their shoulders. There are plenty of things that could go wrong and cause property damages or injuries that can create financial liability. A simple mishap could easily become a costly mistake.
You can protect your business from such problems by getting in touch with the agents at ProfessionalsCoverage. We offer insurance that is specifically designed for HVAC techs in the Ontario area.
The Potential Costs
It is true that the costs can vary significantly from one HVAC tech to another. There are too many factors at play. For instance, your business insurance cost is going to change based on your coverage requirements, exposure and claims history. If you’ve had tons of claims against you in the past, you can guarantee that you’re going to be required to pay more than a business with no past claims.
Below, you’ll learn about the basic coverages that you need to add to your HVAC insurance policy.
Basic HVAC insurance coverage Options
- General Liability – General liability is a good idea for HVAC techs in Ontario. This insurance provides protection from property damages and bodily injuries caused by your business or employees. The insurance may also offer coverage for completed operations and advertising injuries.
- Commercial Auto Insurance – Since you’re working as an HVAC tech, you’re going to be traveling back and forth to the job site. Commercial auto insurance can protect your vans, box trucks, trailer and more!
Additional insurance for HVAC contractors
- BOP (Business Owner’s Policy) – You also need additional coverage, such as protection for personal property and commercial property. If this is the case, you should bundle your general liability with a BOP or business owner’s policy. This is the best way to protect your company to the fullest.
- Workers’ Comp – If you have one or more employees, workers’ compensation is a must. This insurance protects workers who become ill or injured while at work. Plus, workers’ compensation insurance is usually a requirement! Do not skimp on it or you’ll regret it.
Bonded jobs
Also worth noting is that sometimes project owners, big builders, governing bodies, municipalities, or your city may ask you to present a surety bond in order to bid on tendering jobs in addition to insurance. If this is the case, it would definitely be worth exploring applying for a bonding facility so your business can bid on jobs that are exclusive to bonded companies.
Type of contract surety bonds we provide for HVAC companies
- Bid bond
- Performance bond
- Labour and materials bond
- Payment bond
- Site improvement bond
- Surety’s consent to agreement
- Subdivision bond
We can help you attain these bonds. Please contact us to learn more.
Get A Quote From Us Today
We understand that your primary focus is satisfying your clients. Nevertheless, you should also take the time to protect your business and employees with the appropriate HVAC technician insurance. When you’re ready to get started, you should first get a quote. Get in touch with ProfessionalsCoverage right now and get a quote as soon as possible.
For Example, let’s say you are an independent contractor that is ready to sign up, our professionals will first talk to you about why all independent contractors should have insurance and then through binding process which is can also be referred as the purchasing process.
HVAC Technician Disability Insurance
You biggest asset in life is your earning ability. If you are unable to work, you will need to rely on either your savings or borrow money to sustain your lifestyle. When these unfortunate circumstances occur, dependents and spouses are also impacted financially and emotionally.
Disability insurance coverage will provide you a monthly income benefit, usually totaling 70% to 80% of your income, when you are unable to work for a period of time due to injury or illness.
Types of Disability Insurance we offer
- Long-Term Disability Insurance (LTD)
- Short-Term Disability Insurance
- Key Person Disability Insurance
- Self Employed Disability Insurance
- Mortgage Disability Insurance
- Temporary Disability Insurance
- Supplemental Disability Insurance
Other useful information
Other type of contractors we commonly insure
- Telecommunications
- Plumbing
- Construction
- Landscaping
- Cleaning – Residential, industrial and commercial
- Carpentry
- Electrical
- Handyman
- Painting – Residential, commercial, and industrial
- Snow plow
- Roofing
- HVAC
- Extermination
- Air duct cleaning
Frequently asked questions before buying HVAC technician insurance
- Do I Need HVAC Technician Insurance to be able to work in Ontario?
- How Much HVAC Contractors Insurance Should I Have?
- How Much Does General Liability Insurance For HVAC Contractors Cost?
- What Is HVAC Liability Insurance?
- Are HVAC Technicians Required To Have Insurance?
- What Does a HVAC Insurance Policy Cover in Ontario?
- Are the Subcontractors I hire Covered Under My HVAC Insurance Policy?
- As a HVAC Technician, Do I Need Professional Indemnity Insurance?
- Do I need insurance even if I am an Independent HVAC Contractor?
- How do I Become an Approved Contractor for Insurance Company HVAC Jobs