Industry News
Your Plumbing or HVAC Website May Be Sending the Wrong Message to Your Insurance Carrier
Author, Matt Gorham, Account executive, Rancho Mesa Insurance Services, Inc.
Most plumbing and HVAC contractors view their website as a sales tool. However, insurance carriers increasingly view it as an underwriting tool. The same website designed to attract customers is at the same time influencing how an underwriter evaluates your business, impacting carrier appetite, available coverage, and, ultimately, the cost of your insurance program.
A Strategic Approach for Insuring HVAC and Plumbing Contractors in California Requires an Industry Specialist
Author, Matt Gorham, Account executive, Rancho Mesa Insurance Services, Inc.
The insurance landscape that California plumbers and HVAC contactors currently face looks noticeably different than that of recent years. A prolonged period of sharp economic and social inflation has driven up claim costs for carriers, forcing many to exit or reevaluate their positions in the market. As carrier appetite shifts and capacity is constrained, contractors are largely experiencing frustration arising from limited carrier options, reduced coverage, and rapidly rising insurance premiums.
Navigating California Labor Laws: Key Compliance Challenges for Contractors
Jason Fischbein of Fisher Phillips sits down with Matt Gorham to discuss some of the primary labor and employment law issues currently impacting contractors, especially those within the HVAC and Plumbing industries.
Three Key Elements in A Fleet Safety Program for Plumbers and HVAC Contractors
Author, Matt Gorham, Account executive, Rancho Mesa Insurance Services, Inc.
Commercial auto insurance continues to be problematic for plumbers and HVAC contractors as skyrocketing premiums are eroding profitability.
Navigating Risk A Holistic Approach to Mechanical Trades Safety with UFG
Account Executive Matt Gorham sits down with Gary Clevenger, VP of Risk Control at UFG Insurance, to discuss a consultative approach to risk management in the mechanical trades. They cover how a holistic risk assessment, strong partnerships, and modern tools like the DOS framework can elevate your safety and insurance strategies.
New Auto Insurance Minimums Could Expose Coverage Gaps for HVAC and Plumbing Contractors
Author, Matt Gorham, Account executive, Rancho Mesa Insurance Services, Inc.
The State of California has raised its minimum auto insurance limits effective January 1st of this year, and it could be problematic for some HVAC and Plumbing contractors. Although the intention of the limits increase was to expand coverage for victims of accidents, there is concern that it will marginalize many drivers.
Workers’ Comp Rate Increases are Here — Are You Prepared?
Authors, Sam Clayton, Vice President, Construction Group, Rancho Mesa Insurance Services, Inc.; Matt Gorham, Account Executive, Rancho Mesa Insurance Services, Inc.
The workers’ compensation market in California is hardening. After many years of rate decreases, it appears that the market has started to bottom out. The Governing Committee of the Workers’ Compensation Insurance Rating Bureau (WCIRB) voted in favor of pursuing an 11.2% rate increase. If the California Department of Insurance approves the WCIRB’s request, it would make the first rate increase in more than a decade.
Controlling Auto Insurance Costs for Plumbers and HVAC Contractors
Author, Matt Gorham, Account executive, Rancho Mesa Insurance Services, Inc.
Like most businesses, vehicles are an essential part of a plumbing or HVAC contractor’s operations. Whether the focus of their business is service and repair, tenant improvements, installation, or new construction, company leaders depend on trucks, vans, and cars to get their people, equipment, and materials safely to the jobsite.
Five Tips to Protect Your HVAC and Plumbing Vehicles from Break-Ins
Author, Matt Gorham, Account executive, Rancho Mesa Insurance Services, Inc.
Contractors’ vehicles have long been a preferred target for thieves. Due to their distinct shapes and often eye catching branding, contractors’ vehicles are generally easy to identify, and they often contain thousands of dollars’ worth of tools, equipment, and materials.
Protecting Your HVAC and Plumbing Business with Proper Classifications
Author, Matt Gorham, Account executive, Rancho Mesa Insurance Services, Inc.
Within the construction industry, it is common for questions to arise about how to categorize work that a contractor performs. While organizations like the Insurance Service Office (ISO), Workers’ Compensation Insurance Rating Bureau (WCIRB), and the National Council on Compensation Insurance (NCCI) have created classification systems, nuances in worksite demands can lead to confusion about which class code to use for a given business’s operations.
Leveraging Your Experience Modification Rating to Your Advantage
Author, Matt Gorham, Account executive, Rancho Mesa Insurance Services, Inc.
Your Experience Modification Rating (e.g., EMR, X-Mod, or Mod) can have a significant impact on controlling costs within your insurance program. While most business owners recognize that a lower EMR typically leads to lower insurance costs, few owners understand the mechanics for determining an EMR and how they can be used to proactively manage resources to their company’s benefit.
Dual Wage Thresholds Set to Increase Again
Author, Matt Gorham, Account executive, Rancho Mesa Insurance Services, Inc.
In an effort to keep up with wage inflation, California’s Workers’ Compensation Insurance Rating Bureau (WCIRB) has recommended increases to all 16 construction dual wage thresholds, which, if approved, would impact policies beginning on September 1, 2024 and could drive up insurance premiums for those unaware.