One of the keys to managing risks when you first start a business is getting the right insurance to cover your operations, property and potential liabilities.

Unfortunately, many business owners fail to update their policies and just renew them year after year even if the company has grown, expanded operations and facilities, and added new equipment and property. If this is the case, the old coverage would be insufficient.

Business owners should review their policies every year to catch any omissions and make sure they are not underinsured. It is common for smaller businesses to secure a basic business owner’s policy (BOP) and workers’ comp when they first get started. A BOP includes:

• Property insurance for buildings and contents owned by the company.
• Business interruption insurance, which covers the loss of income resulting from a fire or other catastrophe that disrupts the operation of the business.
• Liability protection, which covers your company’s legal responsibility for the harm it may cause to others. This harm is a result of things that you and your employees do or fail to do in your business operations that may cause bodily injury or property damage due to defective products, faulty installations and errors in services provided.

Outgrowing BOP coverage

As your business expands, you may outgrow the BOP and need additional coverage to manage your risks. Some examples include the following:

• Workers’ comp. While you likely added a workers’ comp policy when you made your first hire, you will need to update it as you add more staff. If you don’t, when your insurer audits you, you may face a hefty bill for additional premium. Be diligent about your policy and inform your insurer as you grow.
• Excess umbrella or liability coverage. You should consider this insurance to cover claims that exceed your BOP’s limit, providing you with an added layer of protection to protect your assets.
• Professional liability insurance. These policies provide coverage for mistakes for any professional services you provide. This used to be mainly for doctors, attorneys and accountants, but as our service sector has expanded it includes services provided by coders and software developers, appraisers, consultants, real estate brokers, graphic designers and home inspectors, among others.
• Auto, non-owned and hired coverage. This protects business owners if an employee has an accident while driving a rental or personal vehicle on the job. 
• Employment practices liability insurance. This covers human resources issues related to discrimination, harassment and termination.
• Commercial auto insurance. This coverage protects autos that are not under a personal policy.
• Directors and officers liability coverage. This protects officers and directors in the event they are sued for wrongful acts while on duty.

Depending on the business, some or most of these insurance options may be required for adequate protection. Annual reviews with us are ideal for discussing your options. Make sure these elements are considered:

• If computers, equipment or other types of property have been added, this would be reason to increase policy limits.
• While revenue is an important consideration, it is also important to remember that it is a potential liability. 
• A general liability or BOP may be affected if the owner has moved, added or closed locations.
• Hired and non-hired auto insurance is necessary if workers are driving frequently in rented vehicles. 
• For specific types of work and services, employers may need additional endorsements for their general liability policies.
• People who are serving new industries or clients may have problems with their professional liability coverage if they have large amounts of high-risk industries or customers.
• If you experience an increase in the number of workers you have, or there is a higher turnover rate, it is important to think about employment practices liability coverage. And as mentioned, your workers’ comp policy should be updated to reflect any staffing changes and that you categorize your workers properly.

BGES Group is one of New York, New Jersey, and Connecticut’s Construction Insurance Specialists representing 50+ companies, including all the BEST general & umbrella liability programs. We offer all the coverage needed, including property, builders’ risk, inland marine, general liability, umbrella liability, auto, bid & performance bonds, workers’ compensation, N.Y.S. disability, and group health.  Our commitment to you goes beyond the policies we provide. We are always just a call, text, or email away, ready to assist you, even on weekends. We understand the importance of your business and are here to help you navigate any insurance challenges.

BGES Group are Workers’ Compensation Insurance Specialists for Tri-State Business Owners: Unhappy with your rates, company, being canceled, losses causing difficulty getting coverage, in the middle of an audit dispute, misclassified payrolls, or whatever your issue. We can help!  We have special programs for Auto Services, Contractors (especially in New York), Limousine Services, Logistics Companies, Manufacturers, Recyclers, and Truckers; we can help ANY tri-state business owner. We are considered “Preferred Agents” for this one program that, if we can get you into, their pricing is excellent, offers long-term coverage stability, and can cover multi-state operations. The program takes the hassle out of doing annual audits, too. 

If you want to speak with us, call Gary Wallach at 914-806-5853, click here to email, or visit our website.

Company: BGES Group, 216A Larchmont Acres West, Larchmont, NY 10538

email: bgesgroup@gmail.com

website: http://www.bgesgroup.com

© – Copyright – 2024 – BGES Group

As employers have found in the last few years, hiring has become more difficult as the labor market has tightened amid a strong economy.

With slim pickings, many firms are having to settle for workers they may not normally hire – but that can lead to issues.

Some employers even have a hard time finding candidates that don’t have substance abuse issues, while some people are serial workers’ comp filers, malingerers or have prior industrial injuries that can end up affecting your bottom line and X-Mod.

Here are some suggestions for helping you avoid someone who is likely to either suffer a workplace injury or file a fake workers’ comp claim:

Dig deeper in references

The difficult part is making sure employee selection meets your expectations. This may not be easy, particularly for smaller businesses, since vetting applicants is often limited to calling references they provide and perhaps a drug test.

Yet, even the basic step of contacting references can be made more effective by asking them if they know others who may have knowledge of the applicant. By extending the reach, it’s quite possible to obtain additional information that can be helpful in evaluating prospective employees.

The integrity test

This is one of the more effective tools for identifying job applicants who may be likely to file workers’ comp claims.

Employers often don’t use integrity tests in the belief that they are too expensive. But, a study by Cornell hospitality professors Michael Sturman and David Sherwyn of 27,000 employees of a national hotel chain highlighted the value of using such a test.

Using a test developed by American Tescor, the hotel hired 6,100 of 29,000 applicants. They then used the data from the test and compared the workers’ comp claims of the new hires to those of existing employees who did not take the test. The researchers concluded that the cost savings of screening the workers was considerable.

Based on the number being tested, the cost of testing appears to be $8 to $14 per applicant. The study also indicated that there was a notable reduction in workers’ comp claims among the new hires, which suggests that an integrity test can be a valuable tool for screening job applicants. Because of the nature of the test, it can be administered before a job offer.

Avoid ‘medical baggage’

You should try to give every applicant who has been given a job offer a pre-employment physical before being approved for hire. If someone has been out of the job market for some time, they are often out of condition for some jobs.

Having been sedentary for a long time can lead to back and neck pain and repetitive motion injuries. Also, job applicants can be carrying “medical baggage” that may not be found on a job application but may be revealed with a thorough physical examination.

Background checks

You should consider a thorough background check by a private investigation firm, particularly for employees who will be driving their own or company vehicles. If they have a record of past traffic violations and DUIs, this can spell trouble.

A background check can also reveal if a candidate has misrepresented their workers’ compensation history or medical condition. This can uncover a history of false claims or demonstrate that the applicant is a safety risk based on medical opinion.

Drug testing

This is not just a matter of identifying illegal drug use, as a test may indicate that an applicant is taking one or more prescriptions for a previous job-related injury. That’s information that would never be known on a job application.

The goal is to obtain as much accurate information as possible regarding an applicant, so the picture is complete and reliable. While it takes more time and means additional costs, the expense pales against that of hiring someone with a propensity for filing a workers’ comp claim, or who is more apt to suffer a workplace injury.

Employers need to comply with state and federal laws when undertaking drug screenings.

BGES Group is one of New York, New Jersey, and Connecticut’s Construction Insurance Specialists representing 50+ companies, including all the BEST general & umbrella liability programs. We offer all the coverage needed, including property, builders’ risk, inland marine, general liability, umbrella liability, auto, bid & performance bonds, workers’ compensation, N.Y.S. disability, and group health.  Our commitment to you goes beyond the policies we provide. We are always just a call, text, or email away, ready to assist you, even on weekends. We understand the importance of your business and are here to help you navigate any insurance challenges.

BGES Group are Workers’ Compensation Insurance Specialists for Tri-State Business Owners: Unhappy with your rates, company, being canceled, losses causing difficulty getting coverage, in the middle of an audit dispute, misclassified payrolls, or whatever your issue. We can help!  We have special programs for Auto Services, Contractors (especially in New York), Limousine Services, Logistics Companies, Manufacturers, Recyclers, and Truckers; we can help ANY tri-state business owner. We are considered “Preferred Agents” for this one program that, if we can get you into, their pricing is excellent, offers long-term coverage stability, and can cover multi-state operations. The program takes the hassle out of doing annual audits, too. 

If you want to speak with us, call Gary Wallach at 914-806-5853, click here to email, or visit our website.

Company: BGES Group, 216A Larchmont Acres West, Larchmont, NY 10538

email: bgesgroup@gmail.com

website: http://www.bgesgroup.com

© – Copyright – 2024 – BGES Group

Choosing the right insurance for your painting contracting business is a crucial decision. The right policy can protect you from unexpected costs and liabilities, ensuring your business can continue to operate smoothly. In this blog, we’ll guide you through the essential steps to select the best painting contractors insurance.

Understand Your Business Risks

The first step in choosing the right painting contractors insurance is to identify the specific risks associated with your business. This might include property damage, employee injuries, or liability claims from clients. Knowing your risks will help you determine what type of coverage you need.

For instance, painting contractors often encounter risks such as accidental paint spills, damage to client’s property, or potential slip-and-fall incidents on work sites. Moreover, working at heights or in restricted spaces increases the likelihood of accidents. It’s essential to recognize these scenarios to establish the necessary coverage. Programs like BGES Group highlight the importance of understanding these inherent risks and choosing the right insurance partner.

Employee safety is another substantial risk. Workers handling equipment such as ladders or sprayers can encounter injuries or illnesses from exposure to paint fumes. Understanding these elements helps narrow down the essential insurance policies, including Workers’ Compensation Insurance, which is crucial for safeguarding your team and business.

Types of Insurance Coverage

Familiarize yourself with the different types of insurance coverage available for painting contractors. Common options include general liability insurance, workers’ compensation, and property insurance. Each type of coverage addresses different aspects of your business risks.

For comprehensive coverage, look into General Liability Insurance, which protects against claims involving property damage or bodily injury. This is crucial for expenses related to accidents, such as a paint spill damaging a client’s expensive furniture. Additionally, painting contractors should consider policies like Commercial Auto Insurance for company vehicles and Property Insurance for tools and equipment.

For businesses that offer specialized services, Professional Liability Insurance, also known as Errors and Omissions (E&O) Insurance, is vital. It protects against claims of negligence or incomplete work, which is essential if, for instance, a client claims financial loss due to substandard finishes. This coverage ensures you’re protected against legal battles and financial losses.

Compare Insurance Providers

Not all insurance providers are created equal. Take the time to research and compare different insurance companies. Look at their reputation, customer reviews, and the specifics of their policies. This will help you find a trustworthy provider that offers the coverage you need.

Consider providers with a strong track record in the painting and construction industry. Providers like BGES Group specialize in contractor insurance, offering tailored solutions, including competitive pricing and coverage for specialized needs. Additionally, check the provider’s financial stability and claim settlement history to ensure they can deliver when you need them most.

Consider the Cost and Coverage

While it may be tempting to choose the cheapest option, it’s important to balance cost with the level of coverage. Make sure the policy you select provides comprehensive protection for your specific risks without breaking the bank.

Adequate insurance doesn’t mean you have to overpay. Review what each policy covers in detail. Look for cost-effective options that still provide essential coverage areas relevant to your business, such as liability, equipment protection, and employee safety. Engaging with brokers who understand the specific needs of painting contractors, like Susquehanna Insurance, can help you navigate the best options efficiently.

Also, keep in mind potential future changes in your business. Opt for policies that offer flexibility and scalability, allowing you to adjust coverage as your business grows and diversifies.

Consult with an Insurance Expert

If you’re unsure about which policy to choose, consider consulting with an insurance expert. They can provide tailored advice based on your business’s needs and help you navigate the complexities of insurance policies.

Experts in contractor insurance, such as those at LandesBlosch, can offer insights into the nuances of different policies and coverage requirements specific to the painting industry. These professionals can guide you through the entire process, from assessing risks to selecting the most suitable insurance packages, ensuring you get maximum protection.

Moreover, consulting with a specialized insurance provider helps in understanding the legal requirements in your state. This ensures that your business remains compliant with state regulations while enjoying comprehensive coverage benefits.

Review and Update Your Policy Regularly

Your business needs may change over time, so it’s important to review and update your insurance policy regularly. This ensures that you always have the right level of coverage for your current risks.

Significant changes like business expansion, new services, or shifts in project scale require policy adjustments. Regular reviews, ideally annually or bi-annually, can help you identify and address gaps in coverage proactively. Providers like BGES Group recommend periodic check-ins to ensure your policy grows with your business needs.

Staying updated with industry trends and regulations is essential. As new risks emerge, ensure your insurance strategy adapts accordingly, safeguarding your business from potential vulnerabilities.

Wrapping Up: Your Path to the Right Painting Contractors Insurance

Selecting the right painting contractors insurance doesn’t have to be overwhelming. By understanding your business’s unique risks, comparing policies, and consulting with an insurance expert, you can find a policy that offers the coverage you need. Remember, the right insurance policy is an investment in the future success and stability of your business.

BGES Group is one of New York, New Jersey, and Connecticut’s Construction Insurance Specialists representing 50+ companies, including all the BEST general & umbrella liability programs. We offer all the coverage needed, including property, builders’ risk, inland marine, general liability, umbrella liability, auto, bid & performance bonds, workers’ compensation, N.Y.S. disability, and group health.  Our commitment to you goes beyond the policies we provide. We are always just a call, text, or email away, ready to assist you, even on weekends. We understand the importance of your business and are here to help you navigate any insurance challenges. 

BGES Group are Workers’ Compensation Insurance Specialists for Tri-State Business Owners: Unhappy with your rates, company, being canceled, losses causing difficulty getting coverage, in the middle of an audit dispute, misclassified payrolls, or whatever your issue. We can help!  We have special programs for Auto Services, Contractors (especially in New York), Limousine Services, Logistics Companies, Manufacturers, Recyclers, and Truckers; we can help ANY tri-state business owner. We are considered “Preferred Agents” for this one program that, if we can get you into, their pricing is excellent, offers long-term coverage stability, and can cover multi-state operations. The program takes the hassle out of doing annual audits, too.  

If you want to speak with us, call Gary Wallach at 914-806-5853, click here to email, or visit our website.
 
Company: BGES Group, 216A Larchmont Acres West, Larchmont, NY 10538

email: bgesgroup@gmail.com

website: http://www.bgesgroup.com

© – Copyright – 2024 – BGES Group
 

As a contractor in the Tri-State area, having the right workers’ compensation insurance is vital. It protects your business, your employees, and ensures compliance with state laws. However, if you’re dissatisfied with your current workers’ compensation provider—whether due to high premiums, poor service, or limited coverage—it may be time for a change. BGES Group specializes in helping Tri-State contractors find superior workers’ compensation insurance options tailored to their unique needs. Here are 10 ways BGES Group can help improve your workers’ compensation experience:

1. Tailored Coverage for Contractors

BGES Group understands the specific risks and requirements contractors face. Whether you work in roofing, asbestos removal, demolition, or general construction, they offer workers’ compensation policies designed to meet your industry’s unique needs and reduce exposure to risks.

2. Special Programs for High-Risk Contractors

Contractors in higher-risk fields like roofing or demolition often face exorbitant premiums or difficulty finding coverage. BGES Group has access to specialized programs for these industries, ensuring that even high-risk contractors can get coverage at competitive rates.

3. Competitive Premiums

If your current workers’ compensation policy has seen rising premiums, BGES Group can shop around for better deals. They work with a broad range of insurance carriers, allowing them to find you the most affordable coverage without sacrificing quality.

4. Flexible Payment Plans

BGES Group offers flexible payment options, including pay-as-you-go plans that can ease the financial burden of paying for workers’ compensation insurance upfront. This is particularly beneficial for contractors who experience seasonal fluctuations in cash flow.

5. Audit Support

Workers’ compensation insurance audits can be stressful and time-consuming. BGES Group provides expert audit support, helping you prepare for and navigate through the process to ensure there are no surprises, errors, or overcharges.

6. Claims Advocacy

When an injury or claim arises, it’s critical to have an advocate who will fight for your business. BGES Group offers exceptional claims support, working directly with the insurance company to ensure that claims are handled fairly and quickly, protecting your interests every step of the way.

7. Expert Advice on Class Codes

Misclassification of employees is one of the leading causes of inflated workers’ compensation premiums. BGES Group has deep expertise in class codes, ensuring that all your employees are classified correctly, which can lead to significant savings on your policy.

8. Safety Programs and Risk Management

BGES Group offers guidance on implementing safety programs and risk management strategies that can help reduce workplace injuries, leading to lower workers’ compensation costs over time. They can advise on best practices and even help you qualify for safety credits that can reduce premiums.

9. Review of Subcontractor Coverage

If your business uses subcontractors, it’s essential to verify that they carry the appropriate workers’ compensation coverage. BGES Group can assist in reviewing certificates of insurance for subcontractors, ensuring that their coverage is adequate and up-to-date to protect your business.

10. Superior Customer Service

BGES Group offers a boutique-like service that prioritizes the client relationship. You’ll get personalized attention, quick responses to questions, and direct access to industry experts who are dedicated to finding the right workers’ compensation solution for your business.

Conclusion: BGES Group Has the Right Workers’ Compensation Options for You

If you’re a Tri-State contractor who’s unhappy with your current workers’ compensation company, it’s time to explore better options with BGES Group. Their expertise, personalized service, and access to a wide range of coverage options can ensure that you get the right policy at the right price.

Contact Gary Wallach at BGES Group today to explore how we can help improve your workers’ compensation insurance.

Call 914-806-5853 or email bgesgroup@gmail.com for a free consultation and quote tailored to your business needs.

BGES Group is one of New York, New Jersey, and Connecticut’s Construction Insurance Specialists representing 50+ companies, including all the BEST general & umbrella liability programs. We offer all the coverage needed, including property, builders’ risk, inland marine, general liability, umbrella liability, auto, bid & performance bonds, workers’ compensation, N.Y.S. disability, and group health.  Our commitment to you goes beyond the policies we provide. We are always just a call, text, or email away, ready to assist you, even on weekends. We understand the importance of your business and are here to help you navigate any insurance challenges.

BGES Group are Workers’ Compensation Insurance Specialists for Tri-State Business Owners: Unhappy with your rates, company, being canceled, losses causing difficulty getting coverage, in the middle of an audit dispute, misclassified payrolls, or whatever your issue. We can help!  We have special programs for Auto Services, Contractors (especially in New York), Limousine Services, Logistics Companies, Manufacturers, Recyclers, and Truckers; we can help ANY tri-state business owner. We are considered “Preferred Agents” for this one program that, if we can get you into, their pricing is excellent, offers long-term coverage stability, and can cover multi-state operations. The program takes the hassle out of doing annual audits, too. 

If you want to speak with us, call Gary Wallach at 914-806-5853, click here to email, or visit our website.

Company: BGES Group, 216A Larchmont Acres West, Larchmont, NY 10538

email: bgesgroup@gmail.com

website: http://www.bgesgroup.com

© – Copyright – 2024 – BGES Group

For New York contractors, planning ahead is crucial, especially when it comes to liability insurance. In today’s unpredictable market, waiting until the last minute to renew your policy can leave you vulnerable to price hikes, limited options, or even gaps in coverage. This year, more than ever, having a backup plan is essential. BGES Group offers New York contractors an excellent opportunity to secure competitive, tailored quotes well before their policies renew. Here are 10 reasons why working with BGES Group can benefit your business:

1. Start Early, Avoid Surprises

Starting your insurance review at least two to three months before your liability policy renews gives you the advantage of evaluating multiple options. BGES Group will review your current coverage and offer you a competitive quote, giving you peace of mind if your current provider increases rates or alters terms.

2. Tailored Solutions for New York Contractors

BGES Group specializes in the unique needs of contractors in New York. They understand the complexities of Labor Laws 240 and 241, which can drastically impact your liability costs. With BGES, you’ll receive a quote that is customized to the specific risks and challenges of your business.

3. Protection from Market Instability

With large, well known insurers exiting the market or placing a moratorium on insuring contractors, New York contractors face fewer options. BGES Group works with a wide range of carriers, ensuring that you won’t be left scrambling for coverage.

4. Access to Specialized Programs

BGES Group offers specialized programs for higher-risk contractors, including asbestos, demolition, and roofing. Their tailored solutions provide the coverage you need, even when other providers shy away from such risks.

5. Expert Guidance from Industry Veterans

When working with BGES Group, you’re working with seasoned professionals who have decades of experience in contractor insurance. Led by industry expert Gary Wallach, BGES brings deep knowledge to help you navigate the complexities of liability, workers’ compensation, and umbrella policies.

6. Competitive Pricing

BGES Group is committed to finding you the best rates. Because they work with a variety of insurance carriers, they can compare policies and offer you the most competitive pricing available, giving you a solid Plan B option if your current provider can’t meet your budget.

7. Boutique-Like Service

Unlike large insurance agencies, BGES Group offers personalized, boutique-like service. They take the time to understand your business and tailor coverage to fit your specific needs. With BGES, you’ll never feel like just another number.

8. Comprehensive Coverage Review

BGES Group will conduct a thorough review of your current policies and identify any gaps or unnecessary coverages. This means you’ll not only get a competitive quote but also ensure that your policy fully protects your business from potential claims and liabilities.

9. Assistance with Subcontractor Coverage

Managing insurance for subcontractors can be complicated. BGES Group can help ensure that your subcontractors have the right coverage, so you’re not left vulnerable in the event of an injury or claim. They’ll review certificates of insurance and verify coverage to safeguard your interests.

10. Reliable Claims Support

When claims arise, having a responsive insurance partner is critical. BGES Group provides exceptional claims support, advocating on your behalf to ensure you’re treated fairly by your insurance provider. They’ll be there when you need them most, ensuring your business is protected.

Conclusion: Be Proactive, Secure Your Backup Plan Today

Don’t wait until the last minute to explore your insurance options. As the insurance market becomes more challenging for New York contractors, having a backup Plan B quote from BGES Group is essential. Their tailored coverage, competitive pricing, and personalized service can help you avoid the stress of last-minute renewals and ensure your business stays protected.

Contact Gary Wallach today to get started on your backup plan and secure a competitive liability insurance quote.

Call Gary Wallach at 914-806-5853 or email bgesgroup@gmail.com to learn how BGES Group can help your business thrive with the right insurance coverage.

BGES Group is one of New York, New Jersey, and Connecticut’s Construction Insurance Specialists representing 50+ companies, including all the BEST general & umbrella liability programs. We offer all the coverage needed, including property, builders’ risk, inland marine, general liability, umbrella liability, auto, bid & performance bonds, workers’ compensation, N.Y.S. disability, and group health.  Our commitment to you goes beyond the policies we provide. We are always just a call, text, or email away, ready to assist you, even on weekends. We understand the importance of your business and are here to help you navigate any insurance challenges.

BGES Group are Workers’ Compensation Insurance Specialists for Tri-State Business Owners: Unhappy with your rates, company, being canceled, losses causing difficulty getting coverage, in the middle of an audit dispute, misclassified payrolls, or whatever your issue. We can help!  We have special programs for Auto Services, Contractors (especially in New York), Limousine Services, Logistics Companies, Manufacturers, Recyclers, and Truckers; we can help ANY tri-state business owner. We are considered “Preferred Agents” for this one program that, if we can get you into, their pricing is excellent, offers long-term coverage stability, and can cover multi-state operations. The program takes the hassle out of doing annual audits, too. 

If you want to speak with us, call Gary Wallach at 914-806-5853, click here to email, or visit our website.

Company: BGES Group, 216A Larchmont Acres West, Larchmont, NY 10538

email: bgesgroup@gmail.com

website: http://www.bgesgroup.com

© – Copyright – 2024 – BGES Group

As a contractor in New York, ensuring that your vehicles and the personnel driving them are properly covered under a Business Auto Policy (BAP) is critical. A BAP can protect your business from significant financial exposure due to accidents, damages, or injuries involving your work vehicles. Below are the key coverages included in a standard business auto policy:

Core Coverages in a Business Auto Policy:

1. Liability Coverage – Protects your business from legal obligations if a vehicle you own causes bodily injury or property damage to others.                        

2. Basic No-Fault – New York requires no-fault coverage, which provides compensation for medical expenses and lost wages for you and your passengers, regardless of fault in an accident.                                                                     

3. Additional No-Fault – Offers extra coverage beyond the state-mandated no-fault limits.                                                                                                                

4. Medical Payments Coverage – Covers medical bills for the driver and passengers in your vehicle after an accident.                                                                       

5. Uninsured Motorists (UM) – Protects you if you’re involved in an accident with a driver who doesn’t have auto insurance.                                                        

6. Underinsured Motorists (UIM) – Steps in if the at-fault driver’s liability insurance is insufficient to cover your losses.                                                                     

7. Comprehensive Fire and Theft – Covers damage to your vehicle from non-collision incidents such as theft, fire, vandalism, or natural disasters.

8. Full Glass – Covers breakage of windows – No deductible aplies                       

9. Collision – Pays for damages to your vehicle when it’s involved in a collision with another vehicle or object.                                                                              

10. Rental Reimbursement – Helps cover the cost of renting a vehicle while yours is being repaired due to a covered claim.                                                         

11. Towing and Labor Costs – Provides assistance if your vehicle breaks down or needs towing.                                                                                             

12. Drive Other Car Coverage – Extends liability coverage for key personnel (like executives) when they use a personal vehicle for business purposes.

Changes in the Insurance Market

The insurance market for business auto policies has become increasingly challenging for New York contractors. Rates are consistently rising due to a variety of factors:                                                                                                      

– Higher claim costs associated with accidents and vehicle repairs.                          

– More stringent underwriting by insurers, making them more selective in offering coverage.                                                                                                              

– Fewer carriers willing to insure certain high-risk industries, which includes construction and contracting.

As a result, finding the right coverage has become more difficult and expensive. Carriers are scrutinizing claims history, safety protocols, and fleet management more rigorously before agreeing to insure contractors.

How BGES Group Can Help                                                                                 

Navigating this tougher market requires working with an insurance expert who understands your industry and can help you secure the coverage you need at competitive rates. BGES Group specializes in helping New York contractors with their auto insurance and other business needs.

For assistance with your Business Auto Policy or any other insurance needs, contact:

– Gary Wallach

– Phone: 914-806-5853

– Email: bgesgroup@gmail.com

Reach out today to ensure your business is properly protected!

BGES Group is one of New York, New Jersey, and Connecticut’s Construction Insurance Specialists representing 50+ companies, including all the BEST general & umbrella liability programs. We offer all the coverage needed, including property, builders’ risk, inland marine, general liability, umbrella liability, auto, bid & performance bonds, workers’ compensation, N.Y.S. disability, and group health.  Our commitment to you goes beyond the policies we provide. We are always just a call, text, or email away, ready to assist you, even on weekends. We understand the importance of your business and are here to help you navigate any insurance challenges.

BGES Group are Workers’ Compensation Insurance Specialists for Tri-State Business Owners: Unhappy with your rates, company, being canceled, losses causing difficulty getting coverage, in the middle of an audit dispute, misclassified payrolls, or whatever your issue. We can help!  We have special programs for Auto Services, Contractors (especially in New York), Limousine Services, Logistics Companies, Manufacturers, Recyclers, and Truckers; we can help ANY tri-state business owner. We are considered “Preferred Agents” for this one program that, if we can get you into, their pricing is excellent, offers long-term coverage stability, and can cover multi-state operations. The program takes the hassle out of doing annual audits, too. 

If you want to speak with us, call Gary Wallach at 914-806-5853, click here to email, or visit our website.

Company: BGES Group, 216A Larchmont Acres West, Larchmont, NY 10538

email: bgesgroup@gmail.com

website: http://www.bgesgroup.com

© – Copyright – 2024 – BGES Group

If you’re an employee in New York, you’ve likely heard of New York State Disability Insurance (NYS DBL) and the Paid Family Leave Act (PFL), two important benefits that provide financial support in times of need. Whether you’re recovering from an injury, welcoming a new child, or caring for a loved one, these programs are designed to offer relief when life throws you a curveball. Let’s dive into what these programs cover, the statutory limits, and how businesses can provide additional coverage to employees.

What Does New York State Disability Insurance Cover?

New York State Disability Insurance (NYS DBL) is a short-term benefit that provides partial wage replacement for employees who are unable to work due to a non-work-related injury or illness. It applies to employees who suffer from temporary disabilities, such as recovering from surgery, pregnancy complications, or other health conditions that prevent them from performing their job duties.

Here’s what New York State Disability covers:

– Eligibility: Any employee who has worked for a covered employer for at least four consecutive weeks is eligible for NYS DBL.

– Benefits: The statutory benefit under NYS DBL is 50% of an employee’s average weekly wage, capped at a maximum of $170 per week.

– Duration: Benefits can be paid for up to 26 weeks in any 52-week period.

– Who Pays?: Employers must provide disability insurance for their employees, and they are allowed to share the cost with employees through payroll deductions (though the deduction is typically minimal).

What Does Paid Family Leave Act Cover?

In 2016, New York State passed the Paid Family Leave Act (PFL) to allow employees to take paid time off to:

– Bond with a new child (through birth, adoption, or foster care),

– Care for a family member with a serious health condition,

– Assist loved ones when a family member is deployed on active military service abroad.

Paid Family Leave benefits differ from NYS DBL in several key ways:

– Eligibility: Employees who have worked full-time for 26 consecutive weeks or part-time for 175 days are eligible for PFL.

– Benefits: The benefit under PFL is a percentage of the employee’s average weekly wage, capped at 67% of the New York State average weekly wage. The current statutory cap for 2024 is set at $1,157.11 per week.

– Duration: Eligible employees can take up to 12 weeks of leave.

– Who Pays?: PFL is funded entirely by employee contributions through payroll deductions. Employers are not allowed to fund PFL on behalf of employees.

Beyond Statutory Limits: Increasing Disability Coverage

While the statutory weekly benefit under NYS DBL is capped at $170, some companies choose to enhance this coverage for their employees. Depending on the employer, weekly disability benefits can be increased to $340, $510, or even higher, providing more substantial financial support to employees facing temporary disability.

Offering enhanced benefits is an attractive option for companies looking to stand out in the competitive labor market. Employees with higher coverage feel more secure in case of illness or injury, knowing their financial needs will be better met.

Affordable Rates for New York State Disability and Paid Family Leave

For employers, NYS DBL is relatively inexpensive. Typical annual rates are quite affordable:

– For males, the yearly premium for basic NYS DBL coverage is generally under $25.

– For females, the premium tends to be slightly higher, but is still affordable at under $80 per year.

Paid Family Leave is funded differently. Employers apply a rate per gross payroll to cover PFL, but for employees making over a certain amount (currently set at the state’s average weekly wage), their payroll contribution is capped. This ensures that higher-earning employees don’t contribute disproportionately more than their lower-earning counterparts.

Turn to BGES Group for Disability and Paid Family Leave Coverage

If you’re an employer looking to purchase New York State Disability Insurance and Paid Family Leave coverage, or if you’re interested in exploring enhanced benefits for your employees, BGES Group is here to help. Specializing in workers’ compensation and employee benefits, BGES Group offers personalized service and competitive rates tailored to your business needs.

To learn more or to get a quote, contact Gary Wallach at BGES Group today:

– Phone: 914-806-5853

– Email: bgesgroup@gmail.com

Whether you’re a small business looking to stay compliant or a larger company seeking to offer your employees more substantial coverage, BGES Group can guide you through the process and find the right solution for your business.

BGES Group is one of New York, New Jersey, and Connecticut’s Construction Insurance Specialists representing 50+ companies, including all the BEST general & umbrella liability programs. We offer all the coverage needed, including property, builders’ risk, inland marine, general liability, umbrella liability, auto, bid & performance bonds, workers’ compensation, N.Y.S. disability, and group health.  Our commitment to you goes beyond the policies we provide. We are always just a call, text, or email away, ready to assist you, even on weekends. We understand the importance of your business and are here to help you navigate any insurance challenges.

BGES Group are Workers’ Compensation Insurance Specialists for Tri-State Business Owners: Unhappy with your rates, company, being canceled, losses causing difficulty getting coverage, in the middle of an audit dispute, misclassified payrolls, or whatever your issue. We can help!  We have special programs for Auto Services, Contractors (especially in New York), Limousine Services, Logistics Companies, Manufacturers, Recyclers, and Truckers; we can help ANY tri-state business owner. We are considered “Preferred Agents” for this one program that, if we can get you into, their pricing is excellent, offers long-term coverage stability, and can cover multi-state operations. The program takes the hassle out of doing annual audits, too. 

If you want to speak with us, call Gary Wallach at 914-806-5853, click here to email, or visit our website.

Company: BGES Group, 216A Larchmont Acres West, Larchmont, NY 10538

email: bgesgroup@gmail.com

website: http://www.bgesgroup.com

© – Copyright – 2024 – BGES Group

For contractors in the Tri-State area (New York, New Jersey, and Connecticut), managing workers’ compensation insurance can be a daunting task. The industry is fraught with challenges, and even the most experienced contractors often face issues that disrupt their operations and inflate their costs. Here are the five biggest problems that Tri-State contractors encounter with their workers’ compensation insurance—and how to overcome them.

1. High Premium Costs

One of the biggest complaints from contractors is the high cost of workers’ compensation insurance. Premiums are often determined by factors such as payroll, type of work performed, and claims history. In high-risk industries like construction, rates can soar. This burden is especially tough for smaller contractors who operate on tighter margins and find it difficult to stay competitive while managing steep insurance premiums.

Solution: Working with an experienced insurance broker like BGES Group can help contractors find specialized programs tailored to their industry, which may lower premium costs. BGES Group has access to programs that can potentially offer significant savings without sacrificing coverage.

2. Misclassification of Workers

Accurate classification of employees is critical in calculating workers’ comp premiums. Contractors often struggle with the classification process, leading to workers being placed in higher-risk (and more expensive) categories than necessary. Misclassification can result in inflated premiums or legal issues if the mistake is discovered during an audit.

Solution: A specialized workers’ compensation insurance provider like BGES Group ensures contractors’ employees are properly classified, potentially saving thousands of dollars in unnecessary expenses.

3. Lapses in Coverage

In the fast-paced construction industry, it’s not uncommon for contractors to overlook renewing their workers’ compensation insurance or fail to adjust their coverage as they take on new projects. A lapse in coverage leaves contractors vulnerable to severe penalties, lawsuits, and financial loss in the event of an accident.

Solution: BGES Group offers proactive policy management, helping contractors maintain continuous coverage and avoid costly gaps. They can even assist with payroll services to ensure coverage accurately reflects your workforce size and activity.

4. Inaccurate Audits

Workers’ compensation policies are subject to annual audits. These audits determine if the contractor paid the appropriate premium based on their payroll and employee classifications. Inaccurate audits can result in unexpected bills that contractors may not be prepared for. Some contractors find themselves blindsided by large additional premiums due to mistakes in reporting payroll or employee status.

Solution: With BGES Group’s guidance, contractors can prepare for and manage workers’ compensation audits effectively. By maintaining proper records and having a trusted advisor guide them through the process, they can avoid surprise bills and disputes with insurance carriers.

5. Claims Management and Fraud

Handling claims is another major hurdle for contractors. Workers’ compensation claims can be complex, time-consuming, and costly. Fraudulent claims add an additional layer of frustration, with contractors often feeling powerless to dispute exaggerated or false claims that drive up their insurance costs.

Solution: BGES Group helps contractors navigate the claims process, ensuring legitimate claims are handled promptly while fraudulent claims are addressed properly. With their support, contractors can minimize the impact of claims on their premiums and ensure injured employees get the care they need.

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Why BGES Group is the Solution for Tri-State Contractors

When it comes to workers’ compensation insurance, Tri-State contractors need more than just a policy—they need a partner. BGES Group is one of the region’s top specialists in workers’ compensation insurance for contractors. Their boutique approach ensures that each client gets the personalized attention and specialized solutions they deserve.

Whether you’re looking for ways to reduce your premiums, improve your claims management, or simply ensure you have the best coverage for your business, BGES Group can help. Their team of experts, led by industry veteran Gary Wallach, has the experience and knowledge to tailor a solution that fits your needs.

Need Help? Contact Gary Wallach at BGES Group:

– Phone: 914-806-5853 

– Email: bgesgroup@gmail.com 

– Website: https://www.bgesgroup.com

Don’t let workers’ compensation insurance become a drain on your business. Reach out to BGES Group today and discover how they can make managing your coverage easier, more affordable, and more effective.

BGES Group is one of New York, New Jersey, and Connecticut’s Construction Insurance Specialists representing 50+ companies, including all the BEST general & umbrella liability programs. We offer all the coverage needed, including property, builders’ risk, inland marine, general liability, umbrella liability, auto, bid & performance bonds, workers’ compensation, N.Y.S. disability, and group health.  Our commitment to you goes beyond the policies we provide. We are always just a call, text, or email away, ready to assist you, even on weekends. We understand the importance of your business and are here to help you navigate any insurance challenges.

BGES Group are Workers’ Compensation Insurance Specialists for Tri-State Business Owners: Unhappy with your rates, company, being canceled, losses causing difficulty getting coverage, in the middle of an audit dispute, misclassified payrolls, or whatever your issue. We can help!  We have special programs for Auto Services, Contractors (especially in New York), Limousine Services, Logistics Companies, Manufacturers, Recyclers, and Truckers; we can help ANY tri-state business owner. We are considered “Preferred Agents” for this one program that, if we can get you into, their pricing is excellent, offers long-term coverage stability, and can cover multi-state operations. The program takes the hassle out of doing annual audits, too. 

If you want to speak with us, call Gary Wallach at 914-806-5853, click here to email, or visit our website.

Company: BGES Group, 216A Larchmont Acres West, Larchmont, NY 10538

email: bgesgroup@gmail.com

website: http://www.bgesgroup.com

© – Copyright – 2024 – BGES Group

As a business owner in New York, New Jersey, or Connecticut, one of the most important decisions you’ll make is how to secure workers’ compensation coverage for your employees. You have two main options: purchasing coverage through a state-run workers’ compensation program or using a private insurance carrier. While state programs might seem like a convenient option, they may not always be the best choice for your business.

Let’s take a closer look at five reasons why business owners should reconsider getting their workers’ compensation through a state carrier—and why private coverage might be a better option.

5 Reasons Business Owners Should Avoid State-Run Workers’ Compensation Programs

1. Debt or Unpaid Balances Can Prevent Coverage

  If you owe money to the state plan due to unpaid premiums or a previous balance, you may not be able to secure new workers’ compensation coverage until that debt is paid off. This situation can become especially difficult if you’ve had an audit where the state applied estimated figures, leaving you with an unreasonable balance to pay. Without clearing that debt, your business might be left without coverage, putting you at risk of penalties and leaving your employees vulnerable.

2. Higher Premiums for All Businesses

  State workers’ compensation programs often include higher-risk businesses, spreading that risk—and cost—across all policyholders. This means you could end up paying more for your coverage, even if your business has a good safety record and is in a lower-risk industry. Private carriers can often offer more competitive rates based on your individual business and risk profile.

3. Limited Customization

  State-run programs tend to offer one-size-fits-all policies that may not adequately address the unique risks your business faces. Private carriers, however, can tailor policies to meet your specific needs, ensuring that you have the right coverage for your industry, workforce, and operations. This flexibility can help you avoid paying for unnecessary coverage or being improperly insured.  i.e. You operate in multiple states.

4. Bureaucratic Claims Processing

  Handling workers’ compensation claims through a state-run system could be slow and cumbersome due to government bureaucracy. Delays in claims processing can lead to longer employee recovery times and disruptions to your business. Private carriers typically offer more efficient claims management, helping to resolve issues quickly and minimize downtime.

5. Minimal Risk Management Support

  State workers’ compensation plans often do not offer the same level of risk management and safety support as private carriers. Private insurers usually provide risk assessments, safety training, and other services to help reduce workplace accidents and claims. This proactive approach can lead to fewer claims, lower premiums, and a safer work environment for your employees.

—

Why BGES Group is the Right Choice for Tri-State Business Owners

If you’re looking for expert guidance and customized workers’ compensation solutions, BGES Group is here to help. We specialize in workers’ compensation insurance for businesses across New York, New Jersey, and Connecticut, offering personalized service and competitive rates. With a deep understanding of the challenges business owners face, Gary Wallach can help you find the best coverage for your needs—whether you’re just starting out or need to move away from state-run programs.

Contact BGES Group today for a free consultation and expert advice on workers’ compensation: 

– Call Gary Wallach anytime, Monday through Sunday: 914-806-5853 

– Email us at: bgesgroup@gmail.com 

– Visit our website: http://www.bgesgroup.com

We’re ready to help your business get the workers’ compensation coverage it deserves!

BGES Group is one of New York, New Jersey, and Connecticut’s Construction Insurance Specialists representing 50+ companies, including all the BEST general & umbrella liability programs. We offer all the coverage needed, including property, builders’ risk, inland marine, general liability, umbrella liability, auto, bid & performance bonds, workers’ compensation, N.Y.S. disability, and group health.  Our commitment to you goes beyond the policies we provide. We are always just a call, text, or email away, ready to assist you, even on weekends. We understand the importance of your business and are here to help you navigate any insurance challenges.

BGES Group are Workers’ Compensation Insurance Specialists for Tri-State Business Owners: Unhappy with your rates, company, being canceled, losses causing difficulty getting coverage, in the middle of an audit dispute, misclassified payrolls, or whatever your issue. We can help!  We have special programs for Auto Services, Contractors (especially in New York), Limousine Services, Logistics Companies, Manufacturers, Recyclers, and Truckers; we can help ANY tri-state business owner. We are considered “Preferred Agents” for this one program that, if we can get you into, their pricing is excellent, offers long-term coverage stability, and can cover multi-state operations. The program takes the hassle out of doing annual audits, too. 

If you want to speak with us, call Gary Wallach at 914-806-5853, click here to email, or visit our website.

Company: BGES Group, 216A Larchmont Acres West, Larchmont, NY 10538

email: bgesgroup@gmail.com

website: http://www.bgesgroup.com

© – Copyright – 2024 – BGES Group

Being a contractor in New Jersey is a rewarding but challenging job. From managing projects to ensuring safety on-site, contractors face numerous risks daily. Understanding these risks and knowing how insurance can help is crucial to running a successful business. In this blog, we’ll talk about common risks faced by New Jersey contractors and explain how different types of insurance can offer protection.

1. Workplace Injuries

Contracting work often involves heavy machinery and hazardous materials, making the risk of workplace injuries a significant concern. Workers’ compensation insurance can cover medical expenses and lost wages if an employee is injured on the job. It is crucial because, without it, a business could face hefty out-of-pocket expenses and legal fees. Moreover, in New Jersey, having this insurance is not just a good idea but a legal requirement.

Ensuring that you have adequate workers’ compensation insurance also highlights your commitment to your employees’ well-being. This not only boosts morale but also enhances productivity, as employees feel safer and more valued. Implementing occupational health and safety measures, alongside proper insurance coverage, creates a well-rounded approach to managing workplace injuries effectively.

2. Property Damage

Accidental damage to property, whether it’s a client’s or your own, can be costly. General liability insurance covers repair and replacement costs, protecting your business from these unexpected expenses. This type of insurance is particularly important in the construction industry, where even a small mistake can lead to substantial financial losses.

In New Jersey, contractors are mandated to carry a certain level of general liability insurance. This insurance can save you from out-of-pocket expenses, enabling you to maintain financial stability even when accidents happen. Additionally, it ensures that you can continue working on projects without significant financial disruption, which is essential for business continuity and client trust.

3. Theft of Equipment

Tools and machinery are essential for any contractor, and their theft can halt your operations. An insurance policy that includes tool and equipment coverage ensures that stolen items can be quickly replaced. Without this coverage, replacing stolen tools out of pocket can be a significant financial burden.

Aside from having tool and equipment insurance, it’s also wise to implement security measures on-site. This could include surveillance cameras, secure storage units, and proper record-keeping of all tools and machinery. Combining a proactive security approach with the right insurance coverage creates a robust system for protecting your assets.

4. Client Disputes

Disagreements with clients over project outcomes, timelines, or costs can lead to legal action. Professional liability insurance protects you against claims of negligence or unsatisfactory work. This type of insurance is crucial in maintaining your business’s reputation while safeguarding it from potential financial ruin.

In the contractor world, disputes are, unfortunately, a common occurrence. Resolving these disputes can be time-consuming and expensive, especially if they escalate to legal battles. Having errors and omissions insurance as part of your professional liability insurance can ensure you are covered against claims related to mistakes or failure to meet expectations.

5. Natural Disasters

New Jersey is prone to natural disasters like hurricanes and flooding. Property insurance can cover damage caused by these events, ensuring your business can recover quickly. This kind of protection is invaluable, especially since repairing or replacing damaged infrastructure and equipment can be extremely costly.

In addition to property insurance, considering a business interruption insurance policy can be beneficial. This type of insurance can help cover the loss of income that may result from halted operations due to natural disasters, allowing your business to stay afloat during recovery efforts.

6. Environmental Hazards

Handling hazardous materials can lead to environmental damage, resulting in hefty fines. Pollution liability insurance helps cover the costs associated with cleaning up and mitigating environmental impacts. Not having this insurance can leave your business vulnerable to exorbitant cleanup costs and legal fees.

Pollution liability insurance not only covers cleanup costs but can also help manage third-party claims related to environmental damage. This comprehensive protection ensures that your business can handle unexpected environmental liabilities effectively, reducing financial strain and maintaining your company’s reputation.

7. Contractual Errors

Mistakes in contracts or project plans can lead to costly corrections and legal issues. Errors and omissions insurance covers these types of errors, protecting your business from financial loss. This type of insurance is particularly important for contractors who manage multiple projects with complex contracts.

Maintaining detailed and accurate documentation for all projects can help minimize the risk of contractual errors. However, having errors and omissions insurance provides an additional layer of protection, ensuring that any oversight or mistake doesn’t significantly impact your business’s financial health.

8. Employee Injuries Off-Site

Workers might get injured while traveling to different sites. Workers’ compensation insurance also covers injuries that occur off-site, ensuring comprehensive protection. This coverage is essential for businesses that require employees to travel frequently for work.

Avoiding common mistakes when purchasing workers’ compensation insurance can help ensure you have the right coverage. This includes accurately reporting payroll and properly classifying employees, which helps maintain compliance and avoid potential audits and fines.

9. Supply Chain Disruptions

Delays or disruptions in the supply chain can halt projects and increase costs. Business interruption insurance can cover the income lost during these delays, helping to mitigate financial impact.

10. Cyber Threats

In today’s digital age, contractors also face cyber risks. Cyber liability insurance protects against data breaches and cyberattacks, which can compromise sensitive client information. This type of insurance also covers the costs associated with recovering from a cyber incident, including legal fees and notification expenses.

BGES Group is one of New York, New Jersey, and Connecticut’s Construction Insurance Specialists representing 50+ companies, including all the BEST general & umbrella liability programs. We offer all the coverage needed, including property, builders’ risk, inland marine, general liability, umbrella liability, auto, bid & performance bonds, workers’ compensation, N.Y.S. disability, and group health.  Our commitment to you goes beyond the policies we provide. We are always just a call, text, or email away, ready to assist you, even on weekends. We understand the importance of your business and are here to help you navigate any insurance challenges. 

BGES Group are Workers’ Compensation Insurance Specialists for Tri-State Business Owners: Unhappy with your rates, company, being canceled, losses causing difficulty getting coverage, in the middle of an audit dispute, misclassified payrolls, or whatever your issue. We can help!  We have special programs for Auto Services, Contractors (especially in New York), Limousine Services, Logistics Companies, Manufacturers, Recyclers, and Truckers; we can help ANY tri-state business owner. We are considered “Preferred Agents” for this one program that, if we can get you into, their pricing is excellent, offers long-term coverage stability, and can cover multi-state operations. The program takes the hassle out of doing annual audits, too. 
 
If you want to speak with us, call Gary Wallach at 914-806-5853, click here to email, or visit our website.
 
Company: BGES Group, 216A Larchmont Acres West, Larchmont, NY 10538

email: bgesgroup@gmail.com

website: http://www.bgesgroup.com

© – Copyright – 2024 – BGES Group