Do You Need Additional Insurance for Your HVAC Unit?

Your HVAC system contains some of your home's most essential and expensive equipment, so you need to have the assurance that it's fully protected against damage. HVAC insurance can provide this peace of mind, but it's vital to know if your equipment has adequate coverage now under your existing policies, or if you need to purchase additional insurance. Here's a look at the various ways your HVAC can be protected:

Typical HVAC Equipment Coverage Under Homeowners' Insurance

If damage occurs to your HVAC equipment from one of the named perils listed in your homeowner's policy, it's most likely covered. These types of events can include:

• Accidental fires

• Hail, wind or similar storm damage

• Vandalism and theft

• Power surges and lightning strikes

• Impact from falling objects, like a tree limb

• Floods caused by ruptured pipes

Exceptions to Homeowners' Insurance Coverage

If your HVAC system components are damaged accidentally, your homeowner's policy likely won't cover you for repairs or a replacement. Equipment breakdowns and failures due to normal wear, old age or maintenance issues aren't covered either. Plus, HVAC damage caused by flooding that occurs during a natural disaster isn't typically covered under standard homeowner's insurance, unless you have a separate flood insurance policy.

Major Appliance or Home Warranty Insurance

There are companies that offer supplemental warranties that act as insurance coverage against breakdowns/failures and the repair or replacement of major appliances and household equipment, such as your HVAC components. The cost of these policies can vary greatly, as well as the exact coverage and terms.

HVAC Contractor Service Plans

Reputable local HVAC contractors usually offer service plans for household heating and cooling systems. This kind of coverage focuses on preventive maintenance, so it's rather like a hedge against equipment breakdowns and failures. A good service plan should give you a variety of benefits that include twice-yearly maintenance visits, savings on parts, labor and after-hour service, extended warranties on new equipment, and priority service.To learn more about HVAC insurance or how our extended service plans can protect the comfort equipment in your Broken Arrow home, contact us today at Air Assurance.

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). For more information about other HVAC topics, call us at 918-217-8273.

Does Your Home Insurance Cover Your HVAC?

You probably have homeowner's insurance, but have you ever sat down and carefully gone over what's covered and not covered under your policy?

For instance, your home insurance likely will cover water damage to your HVAC system if the damage occurs from burst pipes or an overflowing condensate drain in the house. But if the outside unit of the air conditioner gets flooded by rising water from a nearby stream or a major storm, you could be out of luck unless you have separate flood insurance.

So what else should you know regarding what home insurance covers and doesn't cover?

Likely Covered

Here are some scenarios where home insurance is likely to pay for your claim to replace or repair your HVAC system:

Storms

Although homeowners' insurance won't cover outdoor flooding, it will usually cover damages from storms, such as a tornado or hailstorm. Also, a windstorm that hurls a tree limb into your outdoor condenser and damages it would be covered, as would an ice storm that harms the parts inside the air conditioning unit.

Theft or Vandalism

Your homeowners' insurance should cover the cost of replacement or repair if your condenser is stolen or vandalized.

Fire

In the case of a fire - from natural causes, electrical problems or from a fireplace or furnace - the homeowners' insurance policy should pay for replacing or repairing the HVAC system.

Not Covered

Here are some scenarios when your homeowner's insurance probably won't pay:

Earthquakes

Earthquakes are become more frequent in Oklahoma, and more homeowners are becoming concerned about earthquake damage to the home. Be advised your policy likely won't cover damages to the home from an earthquake, including damages to your HVAC system. You should obtain a separate policy if you are concerned about earthquake damage.

Age-Related Breakdown or General Wear

Homeowners' insurance will not cover regular wearing out of parts or breakdown as the HVAC ages and parts start to fail.

Contact your insurance provider to ensure your HVAC unit is covered in your home insurance policy. For other HVAC needs, contact Air Assurance of Broken Arrow.

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). For more information about HVAC and home insurance and other HVAC topics, call us at 918-217-8273.