Are you in the HVAC business? If so, you’d understand how challenging the environment can be. The daily hustle of an HVAC contractor involves successfully installing heating, ventilation, and air conditioning appliances and routinely repairing and maintaining each customer’s systems.
So many responsibilities mean one thing in terms of insurance - HUGE liability and property risks. However, loss control measures can significantly reduce and avoid (what could otherwise be) costly claims. One of these measures includes identifying the risks specific to your HVAC company.
Knowing the general risks impacting the HVAC landscape is an excellent place to begin.
- Commercial auto risks
Running an HVAC business requires having at least one vehicle for ferrying employees between different job sites. The more time spent traveling, the higher the risk of auto injuries, liabilities, and accidents. Prevention is the safest way to handle auto exposure, which can include:
- checking driving records,
- training employees on safe driving habits, and
- regular vehicle inspections.
2. Worker safety risks
The occupational risks of the HVAC industry are significantly higher due to the nature of the job. It’s the employer’s responsibility to protect employees from on-the-job illnesses or injuries resulting from flammable materials, dangerous chemicals, hazardous equipment, and elevated work areas. You can effectively reduce worker injuries and accidents through:
- routine workplace safety programs and updates on safety protocols,
- personal protective equipment for each job, and
- job-specific training for chemical hazards, electrical hazards, and fall hazards.
3. Premises and operations liability risks
HVAC jobs require workers to install, adjust, or repair heating, ventilating, and air conditioning units at customer locations. With these operations comes a high risk of injuries or property damages to the customer. To prevent third-party liability claims, you should:
- develop safety procedures for work done when the occupants are present at the job site,
- ensure all technicians are properly licensed and qualified before beginning any operation,
- check that each worker carries out repairs and installations according to building codes, and
- safely recycle or dispose of coolants, refrigerants, and other hazardous chemicals.
Risk management is a big deal in limiting costly insurance claims or lawsuits. All of the above loss control strategies may seem daunting, but you don’t have to figure it out alone. Instead, work with a qualified insurance professional to develop the perfect risk management plan for your HVAC contracting business.
Contact Carriage Trade Insurance to discover more insurance solutions and loss control techniques for HVAC contractors.