HVAC Contractor Repairs and Installation Costs

Higher risk of damage or accidents – and
especially of injury – mean higher insurance
costs, so it is certainly worth assessing your
own machinery for risk and doing all you can
to reduce that. Send your operator on a health
and safety course or an advanced training
course in the use of the machine and agree
with your insurer that only select persons will
operate each machine, and you may see a
reduction in your policy cost.
Fraud and Theft
In all industrial buildings and on sites
insurance is essential especially as protection
against theft and fraud. Fraud is not a common
problem with industrial machinery, but theft
certainly is. A recent report showed that, for
example, theft of GPS enabled agricultural
machinery is becoming more commonplace,
and when reports of this sort are published
the rates rise.
Theft from construction sites is surprisingly
common, especially where heavy plant has to
be left on site overnight. No security measure
is 100% secure, but you need to show your
insurer that you have carried out every
available security measure to protect your
plant from theft and vandalism. Once they are
satisfied that you have done so your premium
will reduce.
The Place of Work
Another influence on the cost of an industrial
insurance premium is that of your place of
work. By this we mean two things: the actual
building or site, and the location. Just as with
some domestic locations certain areas have
a higher risk of theft, and this will apply to
commercial and industrial addresses also. If
incidences of crime are high in the area where
you are constructing, then the insurance on
your machinery will be higher than in a lowrisk
area.
that can be done other than to ensure you
have put in place procedures for reducing the
effect of any hazards and demonstrating this
to the insurance company.
Security System
As with a home or car, a good security system
will help keep your machinery insurance costs
as low as possible. This applies to systems
attached to vehicles and equipment as much
as to the site itself. The best security for a
construction site is to have a couple of guards
on site at all times. This may be an expensive
measure, but it is a proven success.
For industrial buildings an alarm and
surveillance system is essential and will deter
those looking to break in, while it can also be
used to view film of accidents that happen
on site and assess how to prevent them from
happening again.
Prior Claims
If you have made prior claims for insurance
pay-outs for accidents, for example, that area
of your insurance will cost more. The way an
insurer looks as it is that if an accident has
occurred, it is more likely that others will
happen. It may seem that this is the wrong
way around, but in fact it is a statistical fact
and statistics are used to assess risk. Your
insurance policy cost will always rise when
you make a claim, so we recommend you talk
to your insurer about how best to minimise
this risk.
Insurance is about assessing various risks
and coming to an agreement, so make
sure you have everything in your policy that
applies, and also that you are not paying for
clauses that do not cover your business type
as this is a common mistake with insurance
policies.
If the site is complete with numerous hazards,
then additional weight will be put on the risk
of accidents, and this will add to the cost. The
same applies if you are working in a hazardous
or poorly maintained building. There is little
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