If you’re a New York contractor, you’ve likely seen general liability and umbrella insurance rates climb in recent years. Between rising claims, nuclear verdicts, Labor Law exposure, and a tightening market, the financial pressure is real.
But here’s the good news: you’re not powerless.
There are proactive steps you can take to protect your business, improve your insurability, and fight back against painful premium hikes.
Here are 10 smart moves to make right now:
1️⃣ Work with a Specialist Broker (Not a Generalist)
General brokers don’t cut it in New York construction. You need a partner who understands:
- Labor Law 240/241 liability
- How to market your risk
- How to negotiate exclusions & terms
👉 Choose a broker who lives and breathes NY construction insurance.
2️⃣ Do an Annual Coverage & Claims Review
Before renewal:
- Review every policy and endorsement
- Analyze your loss runs
- Address recurring claim patterns
✅ Knowledge is power — and can save you thousands.
3️⃣ Implement a Written Safety Program
Carriers reward contractors with formal safety protocols, including:
- Fall protection
- Site safety meetings
- Equipment inspections
- Incident reporting
📉 Safety = lower risk = lower premiums.
4️⃣ Control Subcontractors & COIs
Uninsured or underinsured subs = disaster.
Always:
- Collect up-to-date Certificates of Insurance
- Require additional insured status
- Verify GL and excess limits
🔒 Build a strict prequalification system.
5️⃣ Manage Labor Law (240/241) Exposure Aggressively
This is the biggest threat to NY contractors.
Tips:
- Train supervisors on fall protection
- Avoid owners who won’t indemnify you
- Push labor law risk to subcontractors (via contract)
6️⃣ Track Payroll by Trade & Job Type
Premiums are based on payroll classification.
- Be accurate
- Track daily tasks
- Avoid sloppy records — they cost you in audits and rates
7️⃣ Start the Renewal Process Early
Waiting until the last minute = fewer options.
Strategic marketing can mean:
- A 5% increase
vs. - A 25% hike
⏳ Start early. Let your broker shop the market properly.
8️⃣ Have a Claims Management Plan
It’s not just the number of claims — it’s how you handle them.
Build a plan for:
- Prompt reporting
- Strong documentation
- Return-to-work programs
📉 Lower reserves = better renewal outcomes.
9️⃣ Consider Deductibles & SIRs
If financially stable, you can:
- Raise deductibles
- Accept a self-insured retention (SIR)
💡 Talk to your broker. The savings can be worth it — if structured right.
🔟 Work with Brokers Who Access Exclusive Programs
Some brokers (like BGES Group) have access to:
- Construction captives
- Specialty carriers
- Exclusive markets other brokers can’t reach
🎯 That means better pricing, better terms, and broader coverage.
Who Is BGES Group — And How Can We Help?
We specialize in New York contractor insurance. It’s all we do.
We know:
- Labor Law liability inside and out
- The underwriters who matter
- How to position your business for better deals
Why Contractors Work With Us:
✅ Free policy & claims audits
✅ Access to exclusive contractor programs
✅ Safety & risk management support
✅ National and specialty market access
✅ Fast, personal service — no call centers
📞 Let’s Talk Before Your Next Renewal
If you’ve been hit with:
- Rising rates
- Restrictive terms
- Last-minute surprises
…it’s time to make a change.
📞 Gary Wallach
📱 914-806-5853
📧 bgesgroup@gmail.com
🌐 www.bgesgroup.com
Protect your business. Lower your costs. Partner with a broker who fights for New York contractors.