Protecting your HVAC system from damage makes good sense; after all, it includes some the most important and expensive equipment in your home. HVAC insurance can give you that peace of mind, but how do you know if your equipment is already adequately covered, or whether you need to buy some extra insurance? A good place to start is by learning about the following kinds of coverage options and how they can protect your home’s HVAC system.
Homeowners’ Insurance Coverage for HVAC
Your homeowner’s insurance policy contains a list of covered perils that can provide coverage if your HVAC equipment sustains damage by such an event. The kinds of perils in such a policy typically include:
- Accident- or storm-related house fires
- Hail, wind and similar storm damage
- Theft or vandalism
- Power surges and lightning strikes
- Impact damage from falling objects, such as a broken tree limb
- Floods caused by burst plumbing pipes
What Homeowners’ Insurance Doesn’t Cover
If your HVAC system is damaged due to vandalism, your insurance policy should cover repairs or a replacement, but if it’s damaged accidentally, it won’t. A breakdown or failure resulting from old age, wear and tear or neglected maintenance isn’t covered either. Damage from natural disasters like floods, mudslides or earthquakes generally isn’t covered, unless you have supplemental flood insurance.
Major Appliance or Home Warranties
These plans cover repairs and replacements of household equipment and major appliances. Typically, you’ll pay an annual premium for the coverage, and a service fee if you make a claim. The terms and cost varies between plans, so you’d need to verify the amount of coverage a plan provides.
HVAC Contractor Maintenance Plans
Established HVAC contractors usually offer preventive maintenance plans that can protect your HVAC equipment against breakdowns and failures. The best plans provide a range of benefits that include semi-annual system tuneups and priority service, along with cost savings on repairs, after-hour assistance and new equipment installations.
For advice about whether you should invest in HVAC insurance or a maintenance plan to protect your Lorain home’s HVAC equipment, contact us at Energy 1 Heating & Air Conditioning.
Our goal is to help educate our customers in Lorain, Ohio about energy and home comfort issues (specific to HVAC systems). For more information about other HVAC topics, download our free Home Comfort Guide or call us at 440-201-2959.
Energy 1 Heating & Air Conditioning
1 (440) 246-5440
Serving the Lorain, OH Area