Staten Island NY
HVAC Contractor Insurance
Time is money for contractors like you. Here is the down and dirty information that Staten Island NY
HVAC contractors absolutely need to know when researching your insurance package.
First, the classification for general liability applies to HVAC contractors.
This category includes contractors who install air conditioning, and furnaces, service and repair duct work as well as service and install low pressure residential boilers for hot water heating systems. Generally unacceptable is rigging whereby you are placing the cooling units on roofs, also generally excluded is asbestos abatement handling. Most insurance company underwriters will have issue if your work includes LPG, butane or propane gas work. You should also call our office if your business includes wood stove installation as we will need to discuss this exposure.
To give you a basis of departure, we have given rough estimates for what a typical 1-man operation
can expect to pay for each line of coverage, and whenever possible given a general idea of how much
of a down payment is needed.
The Insurance Policies a NY HVAC Contractor Must Have
This website goes into great depth taking you through the insurance policies that you as a contractor
must have and other policies that most agents are not talking to contractors about. The policies that
virtually every contractor must have are:
While there is much more information throughout our website regarding Commercial General Liability,
the quotation and down-payment information below is a reasonable representative of what you can expect:
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$500,000
Bodily injury and property damage combined (Combined Single Limit) per occurrence,
premises and operations
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$1,000,000
Bodily injury & property damage, combined - annual aggregate (the most the company will
pay in any one policy period)
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$500,000
Products & Completed Operations Per Occurrence
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$1,000,000
Products & Completed Operations - Annual Aggregate
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$100,000
Legal liability (part of the premises that you occupy on either permanent
or temporary basis)
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$5,000
Medical payments to other than an employee (often referred to as the "don't sue
me coverage" - can be a goodwill payment without legal liability)
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Annual Premium
$2,000
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Payment Options (% Down, # of Installments)
25%
Get A Staten Island NY General Liability Quick Quote Now!
For many contractors, your vehicle is not only your means of transportation but is also
your "mobile office" and care must be given to placing this coverage with an insurance
company who has the means to properly handle your coverage and claims:
Most contractors in this category have either a pickup truck, a van, or a small box truck
which they use in a local radius - less than 50 miles and make less than 4 stops per day.
Obviously, without knowing specifics like vehicle type, driving record, etc this quote is
a reasonable ballpark.
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$1,000,000
Combined Liability & Property Damage
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$1,000,000
Uninsured Motorist Coverage
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$5,000
Medical Payments Coverage
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$500
Deductible Comprehensive
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$500
Deductible Collision
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Annual Premium
$1,500
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Down Payments
25% down, and payments monthly thereafter
Get A Staten Island New York Commercial Auto Insurance Quick Quote Now!
For a lot of contractors workers compensation coverage is your most expensive coverage. The reason for this,
the claims experience for many insurance companies is not great, also workers compensation claims are
considered "long tail" claims as they may go on for many years.
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For HVAC Contractors the rate per $100 of payroll is: $6.25
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The minimum premium for a 1 man operation who is not a corporation is call office
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The minimum premium for a corporation is $1,500
Get A Staten Island NY Workers Compensation Quick Quote Now!
The rates for clerical and sales is dramatically lower than the rate for a contractor.
If you have employees in these classifications the premium will be lower for them and
we will work with you to break out the appropriate payrolls.
This Is An Overview
The rates here are real life rates, but please remember that each policy is underwritten
on its own unique characteristics.
We urge you to call us at (888) 553-0021 or
contact us to finalize premiums and payment options.
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