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Understanding Insurance for HVAC Contractors

Rhino Trade Insurance 01 March 2024

If you’re in the heating, ventilation and air conditioning game, chances are you’re one of the busiest tradespeople you know. Whether you mainly work for individuals or companies, people are crying out for climate-control solutions in the UK, where buildings manage to be both chilly and stuffy at the same time!

But while you’re taking care of homeowners and businesses in your trade, who’s watching out for you? Enter HVAC Contractor Insurance, the must-have policy bundle that will protect you when something happens to threaten your business finances. 

Let’s look at HVAC Contractor insurance, what is covers and why you need it.

Introduction to HVAC Contractor Insurance

Self-employed HVAC contractors in the UK must protect their businesses from common risks including third party liability claims, claims from their own employees, personal accidents and damaged or stolen tools and equipment.

HVAC Contractor Insurance contains several policies which cover these hazards. Rhino Trade Insurance offer a popular HVAC Contractor Insurance policy which can be tailored to your unique business needs, so you never pay for cover that you don’t need.

Who Needs HVAC Contractor Insurance?

All HVAC contractors need business insurance. 

If you don’t have HVAC Contractor Insurance, then you risk financial instability, as well as potential reputational damage that can come with having claims brought against you that you’re unable to settle in a timely manner.

Unpacking the Coverage: What Does it Include?

HVAC Contractor Insurance is made up of policies to offer:

  • Protection Against the Cost of Third-Party Injury Claims

Whether it’s a customer or a member of the public, if you cause harm to someone while you’re working then you will likely be hit with legal liability for all the associated costs including legal fees and compensation. HVAC Contractor Insurance includes Public Liability Insurance of up to £10m to ensure the costs won’t fall to you. 

If it’s an employee of yours who gets injured while on the job, then Employer’s Liability Insurance is your guardian angel which will shield you from having to pay for their liability claim yourself.

  • Protection Against Having to Pay Up for Property Damage

If you break, drop, crack, spill, smash, soil, shatter or otherwise destroy the belongings or possessions of a customer or member of the public in the course of your working day, your Public Liability Insurance will step in once again to pay for the damage on your behalf. 

Likewise, if it’s an employee’s stuff you damage, your Employer’s Liability Insurance policy will step in once again to compensate them.

  • The Cost of Replacing Tools and Equipment 

Tool and equipment theft, loss and damage is a real issue among HVAC contractors and tradespeople in general. UK is a hotbed of tool theft, meaning hardworking tradespeople can find themselves with a calendar full of jobs but no tools to complete them. You can add Tools in Transit Insurance to your HVAC Contractor Insurance bundle, protecting your tools up to £10,000.

  • The Funds to Keep You Ticking Over if You Cannot Work

Any HVAC contractor knows that if you’re injured and cannot work, then no money will be made. HVAC Contractor Insurance comes with the option to add Personal Accident Insurance and Income Protection Insurance, which will provide either a lump sum or a monthly benefit respectively to keep you afloat financially should you be injured and unable to work.

  • A Helping Had During Tax Enquiries

If HMRC come knocking and attempt to re-classify your payroll status in error, it can be a stressful time for any busy tradesperson. The process of corresponding with HMRC throughout their investigation and gathering the evidence to prove your case, not to mention the cost of defending yourself in court, can take a toll. Tax Enquiry Insurance is an optional add-on to your HVAC Contractors Insurance which will provide a legal expert to work your case and represent you in court, which really takes the weight off your shoulders.

Choosing the Right Insurance Policy

The only HVAC Contractors Insurance policy you need is the one by Rhino Trade Insurance. We are the trade insurance experts and know the risks you face in your business – meaning our policies are designed to cover real-world scenarios and the cover limits you’ll get will be generous. This is all at a low cost which is cheaper than the market average!

How Much Coverage Do I Need?

The exact coverage your HVAC Contractor Insurance will include depends on the details of your business. For example, all HVAC contractors need Public Liability Insurance, but you won’t need Employer’s Liability Insurance in your bundle if you don’t employ anyone. Limits of cover will differ, too. If you have a small sole trader business with a modest turnover, you probably won’t need to take out as much cover as a medium-sized enterprise with a dozen staff and a shedload of equipment.

The best way to find out what your HVAC Contractors Insurance bundle will look like is to talk to the expert Rhino team today. Gives us a call on 0116 243 7094 or head over to our online quote engine, enter a few details about your business and see what protection is best for you.


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