Inflation, natural disasters, and the pandemic all contribute to rising insurance costs for HVAC contractors. Insurance is an unavoidable expense, but there are steps business owners can take to reduce these costs.
The reasons for higher insurance costs are one HVAC contractors are familiar with from their own work. Materials and parts remain in short supply, driving up costs for repairs and replacement. The same holds true for labor. Then add to that large payouts from destructive events such as hurricanes and wildfires.