As a New York contractor, you already know how challenging the insurance market has become. Premiums are rising, coverage terms are tightening, and insurers are getting pickier about who they’ll renew. If your liability insurance renewal is approaching, don’t take it for granted — this is the time to protect yourself and your business.
Below are 10 smart, practical steps every New York contractor should take before signing their renewal. Following these can save you thousands of dollars, prevent coverage gaps, and give you peace of mind knowing your business is properly protected.
1. Start Early — Don’t Wait Until the Last Minute
Most contractors make the mistake of waiting until a few weeks before renewal to review their policy. That’s too late. You should start reviewing your coverage at least 60 to 90 days before renewal. This gives you time to identify changes in your business, get alternative quotes, and correct any issues that might make insurers nervous — such as lapses, outdated certificates, or unreported payroll changes. Starting early gives you leverage and time to make the best decision.
2. Review Your Current Coverage Carefully
Before you renew, go through your current policy line by line. Make sure you understand what’s covered — and what’s not. Key areas to check:
- Are subcontractors properly covered or excluded?
- Are you protected for work on residential properties, multi-family buildings, or in New York City?
- Are endorsements or exclusions quietly reducing your coverage? Many contractors discover that exclusions like the “Action Over Exclusion,” “Labor Law Exclusion,” or “Height Limitation” can leave them unprotected against the most common NY claims.
If you’re not sure what something means, ask an insurance professional (like BGES Group) to review it for you — before you sign the renewal.
3. Update Your Business Information
Insurance underwriters base their pricing on your operations, revenue, and payroll. If you’ve expanded, added new trades, or changed your type of work, your insurer needs to know. However, don’t just report increases — you should also review your payroll and subcontractor costs carefully. Sometimes contractors overestimate or carry inflated projections, which can cause overcharges. Adjusting these figures accurately can reduce your premium significantly.
**4. Contact BGES Group to Get Competitive Backup Quotes
Even if you like your current broker or insurer, it’s smart business to see what else is out there. Markets change constantly, and the contractor insurance world is especially volatile.
That’s where BGES Group comes in. We specialize in helping New York contractors find the best coverage and pricing — even when the market is tough. We’ll shop your insurance with multiple carriers that actively write New York contractor policies and make sure your quotes are competitive, your coverages are solid, and your policy fits your specific work.
By getting “backup quotes” through BGES Group, you gain leverage with your current insurer, avoid overpaying, and often discover better protection for the same or lower price.
If your renewal is approaching, don’t renew blind. Contact BGES Group today and see what we can do for you.
5. Verify That Additional Insured and Waiver Endorsements Are Included
Many jobs require you to name owners, GCs, or property managers as “Additional Insureds” and include a “Waiver of Subrogation.” If your policy doesn’t automatically include these endorsements, you could lose contracts or have claims denied. Make sure your policy includes Additional Insured (CG 2010 & CG 2037) forms and Waiver of Subrogation clauses. These are essential for working with larger clients and satisfying contract requirements.
6. Make Sure You Have Proper Coverage for Subcontractors
If you use subs — and most contractors do — your policy must protect you against claims involving their work. Insurers often exclude coverage if a sub doesn’t carry equal or better insurance. Always collect and keep updated Certificates of Insurance from every subcontractor, and verify they have liability and workers’ comp coverage.
BGES Group can help you set up a Certificate Tracking System to protect you from denied claims or surprise charges due to uninsured subs.
7. Review Policy Exclusions and Endorsements for Red Flags
New York is notorious for tricky endorsements that gut your coverage without you realizing it. Watch for red flags like:
- Action Over / Labor Law Exclusions
- Subcontractor Warranty Clauses
- Height or Depth Limitations
- Residential Work Exclusions
- Exterior Work Restrictions
If you see any of these, talk to BGES Group. We know which carriers are contractor-friendly and which policies to avoid.
8. Compare Limits and Deductibles Strategically
Sometimes increasing your deductible slightly can save you a meaningful amount on your premium. Conversely, dropping limits to save a few dollars might cost you dearly if there’s a major claim. Ask your broker to model different limit and deductible options so you can make an informed decision. BGES Group helps contractors find the “sweet spot” between strong coverage and affordability.
9. Ask About Safety Programs and Discounts
Many insurers reward contractors who maintain strong safety practices. Implementing or documenting a formal Safety Program, conducting toolbox talks, or showing OSHA training can earn you lower premiums. You can also qualify for better rates by showing clean loss runs, low claims history, and solid subcontractor controls. BGES Group can help you structure your safety protocols in a way that insurers appreciate — and reward.
10. Partner with a Specialist Who Knows New York Construction
New York is one of the most difficult insurance markets in the country. Labor Law 240/241 claims, scaffold liability, and aggressive litigation make most carriers cautious — or unwilling — to write contractor coverage. That’s why you need to work with a specialist broker who lives and breathes New York construction insurance.
Why Contractors Choose BGES Group
BGES Group is one of the few insurance agencies that specializes in insuring New York contractors. We work with contractors of all sizes — from one-person tradesmen to large general contractors — and we understand the complex insurance challenges unique to New York City, Long Island, Westchester, and beyond.
We also serve New Jersey and Connecticut contractors who work in and around New York.
What makes BGES Group different:
- Deep industry experience: Over 44 years specializing in contractor coverage.
- Access to top markets: We represent multiple A-rated carriers that understand NY construction.
- Hands-on service: We help with certificates, audits, claims, and renewals — not just selling policies.
- No surprises: We’ll review your policies for exclusions that can hurt you and make sure you’re properly protected.
- Personal attention: You’ll work directly with experts, not a call center.
Protect Your Business — Contact BGES Group Today
Don’t wait until after your renewal to find out you overpaid or lost important coverage. Let BGES Group help you shop your renewal, improve your protection, and lower your costs.
📞 Call BGES Group: (914) 806-5853 – Gary Wallach
📧 Email: info@bgesgroup.com
🌐 Website: www.bgesgroup.com
Whether you’re a general contractor, trade contractor, or specialty subcontractor working in NY, NJ, or CT, BGES Group is your best resource for competitive, comprehensive, contractor-focused insurance solutions.
Bottom Line: Insurance renewals aren’t just paperwork — they’re a chance to strengthen your protection and save money. By reviewing your coverage early, understanding your exposures, and getting expert help from BGES Group, you can navigate renewals with confidence and keep your business protected against whatever comes next.