Can You Benefit from Additional Insurance on Your HVAC System?

When you consider that your cooling and heating components are among the most expensive systems installed in your home — and the most critical to your family's quality of life — it’s easy to understand why adequate HVAC insurance is vital. Several options are available that may provide some or all HVAC insurance coverage in the event of a breakdown, a mishap or another event that disables your cooling or heating system. Here, we'll discuss what’s available to protect your investment and comfort.

Homeowners Insurance

If your AC or furnace is affected by an event — such as a fire — that's also covered by a standard homeowners policy, you’re covered. However, a wide variety of events affecting HVAC equipment that are not covered by standard homeowners insurance — such as earthquakes, flooding or major malfunctions due to wear and tear — will not be eligible for compensation.

However, certain homeowners policies include the option for coverage in the event of the breakdown of major equipment. This will pay for significant repairs to home systems, including HVAC. This HVAC insurance coverage is available at extra cost above the standard homeowner’s policy premium.

Home Warranties

Entirely separate HVAC insurance is included in home warranties that also cover major repairs of various home appliances. Marketed by independent companies, home warranties require payment of a continuing monthly premium and also impose a substantial deductible on most repairs. Most plans do not offer coverage for losses due to events that are typically covered by homeowners insurance, such as fire and theft. Coverage may also be denied if particular system components are not properly maintained.

HVAC Contractor Maintenance Plans

The contractor who sold and installed your HVAC system may offer maintenance plans that provide scheduled routine maintenance as well as repairs and replacements for an affordable monthly premium. The terms usually offer discounts on parts and labor, priority service calls and extended warranties for any new systems you may purchase. Service plans are particularly helpful because the routine annual maintenance provided tends to reduce costly breakdowns and repairs, thus making expensive component replacements less likely.

For more information about HVAC insurance options, talk to the professionals at Air Assurance.

A Maintenance Agreement Will See You Through All Four Seasons

A Maintenance Agreement Will See You Through All Four Seasons

If you're replacing or installing a new HVAC system, you might be wondering whether or not to sign up for a maintenance agreement. By setting up an agreement with your HVAC provider you can ensure your system gets the preventive maintenance it needs.Maintenance agreements range from basic plans to more comprehensive. With a basic plan, you will receive checkups at the beginning of winter and summer, when the most drastic temperature changes occur. More comprehensive plans offer discounts on parts and labor, as well as priority service calls and warranties on service.The benefits to having an annual plan is that you are more likely to get your HVAC system serviced on a regular basis, which will improve the energy efficiency of your home. Without a regular tune-up and cleaning, you can lose as much as 30 percent in air conditioner efficiency, and in the case of your furnace, up to 17 percent. In addition, regular maintenance can also reduce the chance of having more unexpected costly repairs occur. Knowing that a trained technician will be servicing your A/C and heating systems a few times a year also means that your filters will be regularly changed, leaks or other potential problems will be identified and fixed sooner, keeping your system running smoothly all year round.Air Assurance offers an Extended Service Plan that protects customers against neglect, poor maintenance procedures and perhaps equipment failure.For more expert advice about a maintenance agreement and other issues related to home comfort, contact Air Assurance, serving the Greater Tulsa area since 1985.Our goal is to help educate our customers in the Tulsa and Broken Arrow, Oklahoma area about energy and home comfort issues (specific to HVAC systems).  Image courtesy of Shutterstock