Workers' Comp for HVAC Businesses
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Why do HVAC employees need workers' comp insurance?
Heating, ventilation, and air conditioning (HVAC) professionals may be easily injured in their workplaces and should carry appropriate insurance coverage in case of accidents. Workers’ compensation, sometimes called workers’ comp or workman’s comp, can help cover medical fees and lost wages for HVAC-work-related injuries.
Not only is workers’ comp coverage legally required for almost all heating, ventilation, and air conditioning businesses with employees‚ but it also helps provide protection for the business by reducing its financial risk. For every dollar spent on a workers’ comp claim, $5 are spent in indirect costs—such as lost productivity, hiring and retraining HVAC workers, and replacing or repairing damaged equipment.
The most common injuries experienced by heating, ventilation, and air conditioning company employees are:
– Heavy lifting strains
– Shoulder and neck injuries
– Hand injuries
– Heat exhaustion
Learn more about how workers’ compensation insurance can help protect HVAC small businesses.
Over 80% of small businesses overpay for workers' comp coverage.
What does workers' compensation insurance cover?
Workers’ compensation insurance helps provide medical, rehabilitation, and disability benefits for HVAC employees who become injured as a direct result of their job. Workers’ comp may also pay death benefits to an employee’s dependents if the HVAC worker is killed in a work-related incident.
In addition to helping HVAC employees and their families, workers’ compensation insurance can also help protect heating, ventilation, and air conditioning business owners. Workers’ compensation helps protect HVAC businesses from liability for employees’ workplace injuries, and it helps keep employers from having to pay directly out of pocket for those injuries. This coverage may reduce the risk of a significant financial loss if an HVAC employee is harmed while performing work duties.
Depending on the laws in your state, to be considered compensable and therefore eligible for workers’ compensation, HVAC injuries must:
have happened to an HVAC employee (not a vendor or independent contractor),
be the result of an HVAC workplace injury or illness during employment, and
cause impairment and/or lost wages.
What are relevant types of class codes?
When you’re ready to start your 3-minute quote, you’ll need to know your HVAC business’s class code.
A class code is assigned by the National Council of Compensation Insurance (NCCI) or by state agencies—and is created based on the activities and risk level the work requires.
There are many different workers’ comp class codes within the heating, ventilation, and air conditioning industry. Below is one of the most common class codes used in the industry.