Because of the many components of an HVAC project, HVAC Contractors deal with many exposures at every jobsite. Whether the job requires commercial or residential systems, the HVAC contractor typically has to deal with the HVAC unit, electrical systems, and duct installation. When things go wrong at the jobsite, your business needs to be able to depend on a reputable and highly-rated insurance carrier to provide the financial resources to make your customer whole again. Fairbanks Insurance Brokers will prepare an insurance package to cover your business for liability exposure, employee injuries, inadvertent property damage, and other risk exposures your business faces every day. The need for HVAC Insurance is driven by the risk of financial setbacks that can result from accidents at the workplace.
Contactors General Liability will be the foundation of protection for your carpentry business. The coverage will respond if you or your employees are found liable for bodily injury or property damage. The coverage also covers defense costs for your business to respond to any lawsuits brought by a third party.
Many states will require carpentry contractors to provide workers’ compensation coverage for their workers in order to work in their state. Accidents happen at job sites that can result in an employee becoming injured and missing work. Your workers’ compensation coverage will provide financial assistance for medical and lost wage expenses.
Many states and customers may require carpentry contractors to offer a license or surety bond before you are allowed to bid on a job or begin working. Your bond is a financial guarantee to your state’s licensing department and your customer that you will complete the job according to your bid.
Typically, carpentry contractors will have multiple vehicles that require commercial auto insurance to make certain their vehicles can be repaired or replaced in the event of an accident, vandalism, or theft.
Also known as Inland Marine Insurance, this policy will provide for reimbursement for expenses to repair or replace tools and equipment. Your tools represent a major part of your livelihood, so we always encourage carpentry contractors to consider this valuable coverage.