An HVAC system isn’t the only installation important for business. Some facilities such as cold storages, laboratories, pharmacies, hospitals, and others look for refrigeration engineers to design cooling systems used for preserving food, medicine, and other goods.
As a refrigeration engineer, you part of a lucrative industry, but that doesn’t mean you are immune to the unexpected cost of an untimely lawsuit. You might oversee a defect, and the pharmacy or any other client might sue for negligence. Also, an employee might get hurt while building a refrigeration system.
Refrigeration engineers insurance can help. This article will examine the most helpful insurance policies, their coverage limits, and available add-ons.
| CoverWallet | NEXT (Best) | Thimble | Hiscox | The Hartford | |
|---|---|---|---|---|---|
| Per occurrence limit | $1,000,000 | $1,000,000 | $1,000,000/$2,000,000 | $2,000,000 | $1,000,000/$2,000,000 |
| Aggregate limit | $2,000,000 | $2,000,000 | $1,000,000/$2,000,000 | $2,000,000 | $1,000,000/$2,000,000 |
| Products and completed operations aggregate limit | $2,000,000 | $1,000,000 | $2,000,000 | $1,000,000 | $1,000,000 |
| Advertising injury coverage aggregate limit | $1,000,000 | $1,000,000 | $2,000,000 | $1,000,000 | $1,000,000 |
| Tenant’s legal liability coverage limit | $300,000/$1,000,000 | $300,000 | $100,000 | $100,000 | $1,000,000 |
| Waiver of subrogation included? | Yes | No | Included | Can be included | No |
| Hired/non-owned auto liability coverage included? | Yes | No | No | Can be included | Can be included |
| Equipment breakdown floater included? | No | Yes | Yes | Can be included | Can be included |
| Can you get a certificate of insurance online? | Yes | Yes | Yes | Yes | Yes |
| Name additional insureds? | Yes | Yes | Yes | Yes | Yes |
| Deductible | $0 | $0 | $0 | $0 | $0 |
This refrigeration engineer insurance protects your business from third-party liability claims involving bodily injury and property damage. Example situations to use this coverage include:
Your business office that is open to the public has a slippery floor that injures a client
While helping a client, one of your employees accidentally damages their cell phone
Tools and equipment coverage–Protects your refrigeration engineer equipment from damage and can help you replace broken tools
Hired and non-owned auto–Offers insurance coverage to non-owned auto vehicles like employee vehicles during business-related activities
Excess liability–Helps you get extra coverage when you have incidents that your general liability insurance can’t fully cover
Refrigeration engineers should opt for a $1 million occurrence limit and a $2 million aggregate limit. This is a solid coverage limit that ensures you have an adequate amount of coverage when it counts.
Yes. If you cancel a policy or don’t renew a new one when the policy limit stops, your business is exposed to perils and risks. To avoid being exposed to risks, you want to ensure that there is never a lapse in coverage.
| CoverWallet | NEXT | Thimble (Best) | Hiscox | The Hartford | |
|---|---|---|---|---|---|
| Per occurrence limit | $1,000,000 | $1,000,000 | $1,000,000/$2,000,000 | $1,000,000 | $1,000,000 |
| Aggregate limit | $2,000,000 | $2,000,000 | $1,000,000/$2,000,000 | $1,000,000 | $2,000,000 |
| Name additional insureds? | Yes | Yes | Yes | Yes | Yes |
| Waiver of subrogation included? | Yes | No | Yes | Can be included | No |
Refrigeration engineers use professional liability insurance to protect from mistakes and oversights they make while on the job that causes a financial loss to another party. Examples of where this refrigeration engineers insurance can help include:
A customer accuses of negligence
You are subject to a lawsuit because of an undelivered service you promised to a client that you failed to deliver
Extended reporting period–This add-on allows you to use a professional liability coverage even if it has recently expired
Additional insured–Allows you to extend coverage to other parties that were not initially written on the policy
Refrigeration engineers will see professional liability insurance policies with $1 million per occurrence limit and $1 million aggregate limit.
While you are not legally required to get professional liability insurance, you will certainly want it to prevent your business from being exposed to catastrophic lawsuits and court fees. The torts that professional liability insurance covers are some of the most expensive claims to defend your business against.
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| CoverWallet | NEXT (Best) | Thimble | Hiscox | The Hartford | |
|---|---|---|---|---|---|
| Building coverage limit (minimum) | $50,000 | $260,000 | $25,000/$500,000 | $25,000 | $60,000 |
| Contents coverage limit (minimum) | $50,000 | $22,000 | $25,000/$500,000 | $25,000 | $60,000 |
| Outdoor signs | Excluded | $2,500 | Excluded | Excluded | Excluded |
| Accounts receivable | Excluded | Excluded | $5,000/10,000 | Included | Excluded |
| Money and securities | Excluded | $2,500 | $1,000 | Included | Excluded |
| Lock and keys | Excluded | $2,500 | Excluded | Excluded | Excluded |
| Business interruption floater | Excluded | Included | Included | Included | Excluded |
| Equipment breakdown floater | Excluded | Included | Excluded | Excluded | Excluded |
| Inland marine insurance floater | Excluded | Excluded | $10,000 | Excluded | Excluded |
| Employee dishonesty floater | Excluded | $5,000 | $2,500 | Included | Excluded |
You can use commercial property insurance to protect your building and associated property against damage or destruction. Events covered by this refrigeration engineers insurance include:
A criminal vandalizes your building and steals some of the contents inside
Your building is damaged in an out-of-control fire
Terrorism coverage–Reimburses the value of the property that got damaged or destroyed due to bombing, looting, and other terrorist activities
Equipment breakdown–Covers expenses if the equipment you use to design and install refrigeration systems becomes inoperable due to mechanical and electrical breakdowns
Refrigeration engineers can expect around $50,000 in coverage limits for the building and contents.Â
Yes. The safer your building is, the less you will pay for your policy. Your building's safety is influenced by the materials it is constructed with, proximity to a fire station, and if you have a sprinkler system installed.
