As a New Hampshire HVAC contractor, having proper insurance coverage is essential for protecting your business, meeting state requirements, and securing contracts. This comprehensive guide breaks down the essential insurance coverages New Hampshire HVAC contractors need, including costs based on our analysis of actual quotes from leading carriers.
Review important HVAC business liability coverage options and requirements.
General Liability Insurance for New Hampshire HVAC
Based on our analysis of HVAC contractor quotes from leading carriers, here are the typical costs for New Hampshire HVAC businesses:
| Revenue Size | Avg Premium | % of Revenue | Favorable Rate | Potential Savings |
|---|---|---|---|---|
| $150K | $3,100 | 2.1% | $1,200 | 61% |
| $500K | $9,200 | 1.8% | $6,300 | 32% |
| $1M | $26,500 | 2.7% | $15,200 | 43% |
These premiums assume:
- Clean claims history
- Standard $1M/$2M coverage limits
- Mix of residential and commercial work
- Approximately 10% subcontractor costs
Key coverages include:
- Property damage protection
- Bodily injury liability
- Products & completed operations
- Faulty workmanship coverage
Worker’s Compensation Insurance for New Hampshire HVAC
Worker’s compensation insurance is required for New Hampshire HVAC contractors with employees. Based on our data, New Hampshire HVAC contractors pay approximately $5,100 per $100K of payroll for workers’ compensation coverage.
Key factors affecting premiums:
- Employee classification codes (primarily 5537 for HVAC)
- Total annual payroll
- Claims history
- Safety programs
- Experience modifier rating (EMR)
Additional Business Insurance for Contractors in New Hampshire
1. Tools & Equipment Coverage (Inland Marine)
- Annual premiums: $200-$2,000
- Policy limits: $5,000-$15,000+
- Covers theft, damage, and loss during transit
- Protection for both owned and rented equipment
- Coverage follows equipment to all jobsites
2. Commercial Auto Insurance
- Cost: $1,500-$3,050 per vehicle annually
- Standard limits: $100K per person/$300K per accident
- Higher limits recommended ($500K-$1M)
- Required for all business-owned vehicles
- Covers accidents during business operations
3. Contractor’s E&O Insurance
- Annual premiums: $50-$500
- Coverage limits: $10,000-$1M+
- Protects against claims of faulty work
- Covers professional negligence claims
- Includes legal defense costs
4. Commercial Property Insurance
- Premiums: $1,000-$5,000 annually
- Covers buildings, contents, and equipment
- Protection against fire, theft, and weather damage
- Essential for contractors with physical locations
- Coverage for tools and equipment storage
5. Business Owner’s Policy (BOP)
- Bundles general liability and property coverage
- Often more cost-effective than separate policies
- Additional coverage options available
- Includes business interruption coverage
- Customizable based on business needs
6. Commercial Umbrella Insurance
- Cost-effective way to increase protection
- Provides additional liability coverage
- Annual premiums: $500-$1,000
- Typically adds $1M in coverage
- Extends beyond standard policy limits
Get New Hampshire HVAC Liability with ContractorNerd
ContractorNerd makes HVAC insurance simple and data-driven through:
- Instant online quotes from top-rated carriers
- Side-by-side coverage comparisons
- HVAC-specific expertise and guidance
- Streamlined application process
- Ongoing policy management
- Claims advocacy when needed
Our team of HVAC insurance specialists helps you:
- Optimize coverage based on your specific risks
- Find competitive rates through our carrier network
- Bundle policies for additional savings
- Ensure compliance with state regulations
Visit our online quote tool or speak with an HVAC insurance specialist today to get started with tailored coverage for your New Hampshire HVAC business.