Do you own a Heating and Air Conditioning company? If so, there are types of business insurance that you need to have to protect your business.
First one to start off with General liability insurance.
This insurance will help protect you from lawsuits.
It protects your company in case someone gets hurt on the premises of your business or if an employee commits some type of harm to a customer that is within its control.
Also, it covers property damage caused by something related to your day-to-day operations and accidents with vehicles or other equipment.
It is important to note that General Liability Insurance may not cover damages caused by professional negligence, misconduct, or errors in judgement on the part of the business owner.
For this, you would need Errors and Omissions insurance which covers those specific types of occurrences for a predetermined amount.
Protect your biggest asset your employees with Workers’ compensation coverage.
This is sometimes called employer’s liability insurance.
It pays to cover medical expenses and other benefits for employees that are injured on the job.
The law requires employers in most states to carry this type of coverage or else they will be charged a penalty by the state. This coverage protects your business from costly lawsuits if an employee is injured or becomes sick.
In many states, workers’ compensation coverage also includes some disability benefits and death benefit for the employee’s family when they die in a work-related incident.
If you don’t have a company yet, it is important to note that there are certain state laws that will require your business to carry workers’ compensation coverage.
Auto insurance coverage for company vehicles and employees.
Auto insurance coverage is a type of business insurance that pays for property damage to your company vehicles and damages the vehicle may cause to other people’s property.
It also covers personal injuries in an accident with one of your employees or customers, and lawsuits from accidents caused by something related to your day-to-day operations.
This third type of insurance is often overlooked because it protects against accidents and lawsuits that are not related to your company.
Auto Insurance also covers the use of a personal vehicle for business purposes on an occasional basis, like when the employee needs to take a customer home after hours or pick up supplies from another location.
It is important to note that if you are driving your own personal car for business, you will need liability insurance as well to cover accidents that occur.
Commercial auto insurance for company vehicles and employees who use their own cars to conduct business-related tasks.
This is the fourth type of insurance that you need to protect your company.
If an employee uses their own car for business-related tasks, they will be covered by this coverage as well.
The best part about commercial auto insurance is that it covers any accidents or lawsuits related to a vehicle not owned by your business even if the employee is not driving it.
Business property insurance that covers your buildings, inventory, equipment, materials, tools, computers and other items used in the operation of your HVAC service company.
This is the final type of insurance that you need to protect your business.
It also covers liability and property damage, theft or other loss from a natural disaster such as fire, hailstorm, flood.
Business interruption coverage will help keep money coming in if there’s an extended shutdown due to something covered by this policy like equipment breakdowns or a fire in the building.
It will cover lost income from customers who must find another HVAC service company, and it pays for expenses like renting space while your business is shut down.
The best way to protect yourself against loss due to something unforeseen happening is with an extended policy that covers you for up to 20 years or all types of losses.
Finally
If you would to like to discuss your options for business insurance, please call us at 561-732-9305 our quoting hours are Monday through Friday from 8:30 AM to 5:00 PM. In addition, you can request a quote online. Please remember, We Handle All the Work, While You Save!
Robert Macoviak is the President of Oyer, Macoviak and Associates. Oyer, Macoviak and Associates is the oldest independent insurance agency in Boynton Beach and has been in business since 1953. Oyer, Macoviak and Associates are vested members of the community who are committed to doing business face-to-face and being your insurance advocate in times of need.
