No heat during a freeze is an emergency, and it is the most common winter call we take. When outdoor temperatures sit in the twenties or lower, an unheated house loses ground quickly, and the risk moves past discomfort to frozen pipes inside exterior walls. No cooling during a heat wave is the summer equivalent, and it becomes urgent faster than people expect when the house holds elderly residents, infants, anyone with a heart or respiratory condition, or anyone recovering from surgery. An upper floor bedroom during a Mid-Atlantic July can climb well past what is safe.
Water pouring or steadily dripping from a unit is an emergency because of what it damages while you wait. A clogged condensate line on a downtown Silver Spring or Bethesda condo fan coil shows up as a stain on the ceiling of the unit below. An attic air handler in a rambler can soak drywall and insulation across a whole hallway before morning. Shut the system off at the thermostat and call. A burning smell is also a call now rather than later, particularly an electrical or hot plastic smell as opposed to the ordinary dust burn off on the first heating day of the season.
A system that trips its breaker repeatedly is an emergency in the sense that it should not be reset again. One reset is reasonable. A second trip means something downstream is drawing more current than the circuit allows, and that is usually a failing compressor, a seized motor or damaged wiring. Leave the breaker off and call. The same goes for loud grinding, screeching or banging from the equipment, or a unit that is visibly smoking: shut it down at the breaker and leave it off until someone has looked at it.