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Why Should You Quote Installation Contractor Risk?

Opportunities Abound for HVAC Installers

of HVAC distributors reported increased sales in 2013

While that stat comes from an association for HVAC distributors, it's still a good sign for installation professionals – those distributors are selling to someone! Factor in that the BLS predicts faster-than-average job growth for HVAC installers and mechanics in the next 10 years, and you can see why this is a rich market for your agency. Help these clients get the coverage the need by comparing General Liability and Property Insurance quotes.

Our Happy Agents

We get a lot of requests for just general liability or D&O, so I am able to use Insurance Noodle for these types of risks. I am happy to know that new business through Insurance Noodle will count towards our growth goals as well.

- Sally Mercer
Mercer Insurance Agency

Important Insurance Policies for Professional Installation Businesses

Whether your client installs cable television or septic tanks, the work they do is very physical. Their business requires them to drive themselves, their tools, and possibly their employees to other people's property to get the job done. This creates some unusual exposures that will need a variety of coverages for your professional installation clients.

When writing professional installation contractors, consider including...

General Liability Insurance

General Liability Insurance is a fundamental policy for any small business. It protects your client when a third party, e.g., a customer or a business partner, claims your client is responsible for their bodily injuries or property damage. For example, if your client installs drywall on a customer's ceiling and it crashes to the floor, GL's Product-Completed Operations coverage can pay for the customer's medical expenses or property replacement. If the customer decides to sue, General Liability covers your client's legal expenses, including attorney fees and settlements or judgments.

Property Insurance / Business Owner's Policy

Let's say your HVAC client's truck is broken into, and the crook steals all of their tools. This event can be covered by their Property Insurance, which pays to replace their stolen gear. It can also repair property that's damaged in certain covered events, like fires, tornadoes, and acts of vandalism. Some professions in this category carry a low level of risk, which means they may be eligible for a Business Owner's Policy, or BOP. A BOP combines General Liability and Property Insurance into one bundle, thus keeping costs low while still providing adequate coverage for your client.

License Bond / Permit Bond

Installers usually need License Bonds to get their professional licenses (e.g., plumber's license or electrician's license) and Permit Bonds to get building permits. License / Permit Bonds act as a guarantee, assuring the state or local government that your client will follow the appropriate building codes and regulations. If they fail to do so and the government entity suffers financial losses, the client's insurer covers the damages. Unlike insurance policies, your client will have to pay back any amount the insurer covers for these bond claims.

Workers' Compensation Insurance

Installation professionals often work at construction sites that are full of hazards. For example, workers may fall from scaffolds or electrocute themselves while installing cable. With all these perils, your client's employees could easily injure themselves on the job. Most states require employers to carry Workers' Compensation Insurance, which covers an employee's medical bills and lost wages when they're hurt on the job. Your client may be obligated to carry this policy even if they have only one employee.

Tips for Insuring Advertising, Graphic Design, and Media Services Professionals

Mitigating risks is especially important for people who install items for customers. The chance of damaging a customer's house or office space is significant. But small-business owners seldom have the resources to support a risk management department. You can be a great asset to your client by suggesting they..

Remember to insure their business vehicles.

Keep their professional license up to date.

Set clear safety protocols.

Secure their essential equipment at worksites.

Perform background checks on employees.

When you offer advice to your clients, you open their eyes to the exposures they face. Once they know their vulnerabilities, they can make smarter choices about their insurance.

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