HVAC Equipment

Cost increases to labor and HVAC equipment are having a trickle-down effect on insurance carriers.

With equipment housed both indoors and out, these complex systems are susceptible to impacts from multiple hazards.

Adjusters should know about this equipment because when it operates correctly, the system controls the kitchen’s temperature, humidity, and airflow, and prevents smoke and fire incidents and associated claims.

Here’s some background on the most commonly reported causes of loss between June and September – lightning, hail, and wind – and what evaluations reveal.

The policyholder may confuse damage resulting from typically non-covered perils like wear and tear for something else, like smoke and fire or wind damage.

By the end of the webinar, you’ll know about water’s impact to split systems, ductwork, and package units, among other components.

The number of hail-related HVAC system claims increases substantially during the spring storms months, along with the number of claims for damages caused by wind and foreign object impacts.

Understanding commonly claimed residential HVAC system types and components and why it’s so important to obtain an accurate cause of loss every time can help prevent claims leakage.

Adjusters shouldn’t assume lightning is the cause of loss based on a policyholder’s contractor and should rely on comprehensive assessment results to decipher which peril is related to the HVAC claim they are working on.

While they are not seen as frequently as traditional split systems and package units, adjusters should still make themselves familiar with this type of equipment.