Running a successful construction business in New York comes with its own set of challenges, not least of which is securing reliable and affordable insurance. Here are five problems contractors commonly face with their general and umbrella liability insurance, and how BGES Group can provide the solutions.
1. Exorbitant Rates for Labor Law Coverage
Labor laws in New York are stringent, and the inclusion of labor law coverage in liability policies can send rates skyrocketing. Contractors often find themselves burdened by exorbitant premiums, making it difficult to maintain the necessary coverage without severely impacting their bottom line.
**Solution**: BGES Group specializes in liability and workers’ compensation insurance for contractors. With 44 years of experience, BGES Group has the expertise to negotiate better rates and tailor coverage to meet your specific needs. By leveraging their network of top construction insurance companies, they can secure more competitive pricing and comprehensive coverage.
2. Constantly Switching Insurance Companies
Frequent rate increases and coverage restrictions force many contractors to switch insurance companies regularly. This instability not only disrupts business operations but also creates a constant state of uncertainty regarding coverage and costs.
**Solution**: BGES Group’s dedicated team works to find long-term solutions rather than temporary fixes. They focus on securing stable policies that offer consistent rates and reliable coverage, reducing the need for frequent changes and ensuring your business remains protected without interruption.
3. Restrictive Hammer Clauses
Policies with hard or soft hammer clauses can severely restrict or even eliminate coverage for independent contractor claims unless subcontractors carry specific minimum coverages. Many contractors are uncertain whether their subs meet these requirements, leaving them vulnerable to gaps in coverage.
**Solution**: BGES Group can help you navigate these complex policy terms and ensure that all subcontractors meet the necessary coverage standards. They can provide thorough reviews and recommendations to ensure compliance, protecting your business from unexpected liabilities.
4. Skyrocketing Umbrella Liability Premiums
The cost of maintaining adequate umbrella liability coverage has become financially burdensome for many contractors. As premiums continue to rise, it’s increasingly difficult to sustain the level of coverage needed for comprehensive protection.
**Solution**: BGES Group leverages their extensive industry relationships to find more affordable umbrella liability policies. Their expertise ensures you receive the best possible coverage at a price that won’t break the bank, allowing you to maintain the necessary protection without compromising your financial stability.
5. Unresponsive Brokers and Hidden Fees
A common complaint among contractors is the unresponsiveness of their brokers. Delayed certificate issuance, last-minute renewal quotes, and unexpected extra fees can create significant operational challenges and financial strain.
**Solution**: BGES Group prides itself on providing personalized, boutique-like service. When you call, they answer. You will work with the same knowledgeable professional year after year, ensuring consistency and reliability. BGES Group is transparent about fees and focuses on providing timely, efficient service to meet all your insurance needs.
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Why Choose BGES Group?
With a legacy of 44 years in the insurance industry, BGES Group has built a reputation for excellence in servicing New York contractors. Their deep expertise and strong relationships with top construction insurance companies enable them to offer competitive rates and comprehensive coverage tailored to your needs.
**Personalized Service**: Unlike large agencies with high employee turnover, BGES Group offers a stable, reliable point of contact. You’ll work with the same person every year, ensuring continuity and a deep understanding of your business.
**Immediate Support**: BGES Group is committed to being there when you need them. Whether it’s answering a call promptly, issuing certificates quickly, or providing renewal quotes in a timely manner, their team is dedicated to supporting your business operations seamlessly.
**Transparent Fees**: BGES Group maintains transparency in their fee structures, ensuring you understand what you’re paying for without any hidden costs.
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 would like to speak with us, call Gary Wallach at 914-806-5853, click here to email, or click here to visit our website.
Company: BGES Group, 216A Larchmont Acres West, Larchmont, NY 10538
email: bgesgroup@gmail.com
website: http://www.bgesgroup.com
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