Extreme Weather in Canada is Driving the Need for HVAC Contractors
With summer approaching, Heating, Ventilation and Air Conditioning (HVAC) systems are likely to suffer from fatigue due to the hot temperatures. According to the BC Coroners Service (BCCS), there were 597 heat-related deaths in British Columbia (B.C.). The heatwave in 2021 resulted in 66 deaths in Alberta, based on a prestige-level evaluation of Corporate Disaster Risk Assessment. With that, the city of Calgary experienced a high of 36.3 C, making it the city’s second highest temperature ever. Luckily, the city’s Municipal Emergency Plan established cooling centres across Calgary for individuals living in perilous conditions and distributed water to vulnerable and dependent populations.
Nonetheless, HVAC accidents can also occur during colder weather. In the case of frozen inner coils and thickening lubricating fluid, the system is rendered dysfunctional. Testing your HVAC system should be done at a low temperature below 18 C in order to prevent ice from forming on the condenser.
With Canada’s extreme weather variations, HVAC contractors are in high demand. HVAC contractors and companies play an essential role in the lives of Canadians. BuildForce Canada anticipates that with the gradual shift from depressed economic conditions due to COVID-19, domestic construction sectors and HVAC services are expected to fluctuate in 2022 and all the way through 2027. There is a strong upwards trend in residential-sector investment and major-project requirements. The benefits of this will be improved consumer spending and a rise in the demand for energy-efficient systems. New installations in existing buildings will be more popular as costs are lowered for businesses and households.
Whether you are providing residential, commercial or industrial HVAC contracting services, our expert team of brokers can provide custom insurance policies that cover the unique needs of your business.
HVAC Contractors and Companies
Contractor, tradespeople and construction industries can face struggles with the emergence of technology, changing conditions and other risks on the job every single day. Accidents within HVAC systems can range from pollution-related incidents to stolen, damaged or lost equipment and tools necessary to the function of your business. Fuse Insurance offers the resources necessary in order for HVAC contractors and companies to be covered for any risks or interruptions that your business may encounter.
What insurance policies should HVAC contractors and companies consider?
The following are a list of policies to consider as someone in the HVAC and construction industry:
Commercial General Liability
As a HVAC contractor, the work you do may result in injuries or property damage to passerby or motorists travelling by your construction site. Commercial General Liability can provide coverage against claims of third-party injury or property damage that occur on or around your job site. It provides financial coverage for common claims involving legal liability or lawsuits, which would cost your business tens of thousands of dollars without insurance.
Installation Floater
Installation Floater covers moveable and personal property installed or changed by a contractor. This policy covers property in the course of being installed, including labour, so you’re protected if there is a loss part-way through the job. As a tradesperson or contractor, you can obtain a blanket policy for all work performed with limits set on average and/or maximum installation exposures.
Tools and Equipment
HVAC businesses invest a lot of money into tools and equipment. This policy will provide coverage for the repair or replacement cost if your tools are damaged, lost or stolen. In order to ensure you have adequate coverage, you will need to make an inventory list of what tools and equipment your business owns.
Pollution Liability
You need Pollution Liability Insurance if you work in an industry that exposes you to specific environmental risks and liabilities corresponding with pollution. This policy is designed to protect HVAC contractors and construction businesses from third-party bodily injury, environmental and property damage and in the event of pollution on a covered job site.
Commercial Auto
When you are transporting materials to and from job sites, there is room for accidents to happen, which can damage your equipment and slow down your projects. If you are using a vehicle to drive to work, your warehouse or anywhere in between, Commercial Auto Insurance will help cover you for accidents that happen while travelling on the job.
Demand in Repairs and Maintenance
The increase in business activity and consumer spending in recent years benefits HVAC contractors and construction companies who have seen new plans for expansion and new commercial construction and services. Extreme heat and cold temperatures also create more opportunities where homeowners will need to schedule HVAC contractors for maintenance checks in their units.
Whether you run a HVAC business or independently work as a HVAC contractor, the experienced brokers at Fuse Insurance are here to provide customized insurance programs for those in the HVAC and construction industry. Our online quote application is quick and easy and provides the information we need to get your insurance policy in your hands as soon as possible. To start your quote now, fill out our form online or call 1-866-387-FUSE (3873).
