A Refrigeration Contractor’s work consists of installation, alteration, repair, or maintenance of refrigeration systems.
Refrigeration operations require special tools and equipment that can be hazardous, formulating a significant risk for liability resulting from bodily injury or property damage to a third party.
Moreover, there is a credible risk to employees at the job site for work-related injuries.
Refrigeration Contractors General Liability provides the foundation of a solid package of protection.
Most state licensing boards require refrigeration contractors to have Contractors’ Liability Insurance before operating their business.
Refrigeration contractors that understand ongoing risks at a job site need protection from bodily injury liability, property damage liability, defense costs, and in many cases, products-completed operations.
Contractors’ General Liability Insurance will provide that safeguard for your refrigeration business.
Refrigeration Contractors’ Workers’ Comp protects your employees when they are injured or become ill from a job-related incident.
This multiple-state-required policy helps pay for medical expenses, lost wages, and some funeral expenses.
The state you work in will define the minimum required coverage limits for your refrigeration contracting business to become licensed.
It’s important to note that most states implement severe penalties and fines to penalize employers who fail to provide continuous contractors’ workers’ comp coverage.
Most states require that refrigeration contractors carry a surety bond before they begin to operate their business.
This contractors’ surety bond provides a financial guarantee to your customers and the state licensing board that you will complete the job according to your bid and that all subcontractors and vendors get paid when the job is complete.
Refrigeration contractors that use vehicles for business, including transporting tools, equipment, and construction supplies, need contractors’ commercial auto insurance to protect vehicles involved in an at-fault accident, damaged in an accident, stolen, or vandalized.
Your Refrigeration Contractors’ Commercial Auto Policy will have no limit on the number of vehicles or drivers that need to be covered.
Most Contractors’ Commercial Auto carriers provide coverage up to $1 million combined single limits.
Refrigeration contractors use expensive tools and equipment while working at the job site.
Making sure this valuable equipment gets covered in the event of damage or loss is the best way to protect your business from the cost of replacing this equipment.
Refrigeration Contractors’ Tool Coverage (Inland Marine Insurance) protects you while your tools and equipment are at the job site, in transit, or storage.