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Will My Insurance Cover a New HVAC System?

Cranney technician discusses air conditioner with a homeowner

HVAC systems often fail unexpectedly, and that can catch many homeowners off-guard. As harsh as the weather can be in the North Shore area, going without heating and cooling is simply not an option. If you are thinking about how you will pay for a new HVAC system, you may have considered your homeowners insurance policy. But will it cover a new HVAC installation? 

Is My HVAC System Covered?

If your HVAC system was damaged due to an event covered under your insurance policy, such as high winds, storms, or a lightning strike, your homeowners insurance will likely cover the cost of a new HVAC installation. If your HVAC system stops working due to age, lack of maintenance, improper installation, or a non-covered accident, you will usually have to pay for the HVAC replacement yourself.

Other Ways To Pay for an HVAC System

If you do not have the free cash to pay for a new HVAC system outright, here are a few options to cover the cost:

Home Warranties

If you have an existing home warranty or an extended warranty, it may cover the cost of a new HVAC system if the system was not misused or neglected. Check with your provider to learn if an HVAC replacement is an option under your current coverage.

Home Equity Loans

If you have a bit of equity in your home, you can likely take out a home equity loan or line of credit to finance your new HVAC system.

Credit Cards

Although costly, credit cards are a viable way to fund a new HVAC system in an emergency, especially if you can pay it off quickly or pay part of the sum in cash.

Personal Loans

A personal loan from your local bank may be a good option to pay for a new furnace or air conditioner if they offer reasonable rates and decent terms.

HVAC Company Financing

Many HVAC companies offer in-house financing through partnerships with various financial services companies. Be sure to check the rates and terms carefully to ensure you are getting a good deal and not paying too much for the loan.

HVAC Installations & Financing in Danvers, MA

When you need a new HVAC system for your home in Danvers, Salem, Andover, or the surrounding areas, turn to our team at Cranney Home Services. We can recommend the best system for your needs and provide a professional HVAC installation that you can count on for long-term performance and reliability. We also offer great financing options through our MassSave Financing program. With more than 40 years of HVAC experience, a five-star service experience, and a 100% satisfaction guarantee on all our HVAC services, you can trust our family-owned company for all your most critical heating and cooling needs.

Contact us at (978) 750-6900 to schedule an HVAC installation in the North Shore region or to apply for our MassSave Financing program.

Proudly Serving The
North Shore and
Merrimack Valley
Areas include:
Salem   |   Andover   |   Danvers   |   Lynnfield   |   Melrose
and surrounding cities
Proudly Serving The
North Shore and
Merrimack Valley
Areas include:
Salem   |   Andover   |   Danvers   |   Lynnfield   |   Melrose
and surrounding cities