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Heating Equipment Supplier Insurance

Heating Equipment Supplier Insurance - ALIGNED Insurance brokers of Canada
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Get better business insurance for your Heating Equipment Supplier Business

As a heating equipment supplier, you help certified HVAC technicians to do their important jobs of installing heating and cooling systems by providing them with the equipment and products they need. Your experienced, well-trained and knowledgeable staff also advise your clients on residential, commercial and institutional systems, as well as providing estimates and product information. Your team may also be responsible for fabricating some of the building blocks of your clients’ HVAC systems. 

Regardless of the parameters of your Heating Equipment Supply business, you need to have insurance protection to safeguard your investment. There are inherent risks involved in being a supplier in this technical business sector and discussing the particulars of your business with an ALIGNED broker will ensure you get the insurance coverage you require. 

Why do Heating Equipment Suppliers need insurance? 

Heating Equipment Supplier Insurance
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All supply companies, including Heating Equipment Suppliers, need adequate insurance coverage. There are some types of insurance that apply to all suppliers, and some coverages will be specific to your particular business. As a supplier of HVAC equipment and supplies, you should consider the following coverages: 

Commercial General Liability insurance (CGL) is a foundational coverage that all businesses need. This type of insurance guards against claims that are related to bodily injury and property damage claims against your business, as well as against lawsuits alleging false advertising and personal injury liability. As a Heating Equipment Supplier it is also important to know that additional coverages are also part of CGL, such as:

  • Products Liability coverage bodily injury or property damage incurred by a merchant or manufacturer as a consequence of some defect in a product being sold or manufactured.

Product Recall Insurance will cover you in the event one of the products you sell or install is recalled, and can cover such costs as replacement products and rehabilitating your brand after a recall. 

Pollution Liability Insurance will provide coverage for any cleanup or litigation costs related to your HVAC product manufacturing process. 

Employment Practices Liability Insurance covers you in the event of any employee claims of discrimination, wrongful dismissal and other. 

Cyber Liability Insurance covers your business in the event of a data breach and will pay for such things as data recovery and notification costs. 

Additional Coverages

If your employees use company vehicles, you may also wish to consider Commercial Vehicle Insurance to guard against any injury or property damage during the course of business. Boiler and Machinery Insurance can cover for any losses due to mechanical failure resulting from certain perils. Accounts Receivable Insurance covers you in the case that you don’t receive what’s owed to you on time. 

Claims scenarios. What situations Heating Equipment Supplier insurance can respond to…

  • One of your staff members installs a faulty fan in an HVAC component that is then sold a client and malfunctions, causing extensive damage to their property. 
  • An employee is moving a large piece of equipment at your factory and backs into another work vehicle, causing extensive damage. 
  • A client who purchases part of an HVAC system from you later sues you when the system causes mould damage at the installation location.

To protect your business, and to avoid paying out of pocket when something goes wrong, talk to an ALIGNED broker today to discuss the better business coverage options for your Heating Equipment Supply company. 

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