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Here are Some Unwritten Truths About Liability and Workers Compensation Policies and The Insurance Industry

1. Your liability and workers compensation auditors work for your insurance company, not you!  There’s a lot they aren’t telling you which can cost thousands, tens of thousands of dollars.

2. Is your liability policy preventing you from getting jobs?  Lots of contractors are unaware of how bad their liability policy’s are.  There are brokers selling these policies and in our opinion they are doing an incredible disservice to the construction industry.  How many of you work with general contractors, owners?  Are they asking you to sign contracts?  Do you know if your policy covers what they require in their contract?  Let’s face it most insurance companies do not want to pay claims and their policies are designed to do just that.  Is your policy one of the real lousy ones?

3. Quite a few New York contractors have liability policies that are inexpensive but their insurance company has a very low financial rating, Labor Law exclusions, no contractual liability, the company is Black Listed.  Then there is the other extreme, liability policy’s that have exclusions acceptable to customers but are outrageously expensive.   How would you like a liability policy that has limited exclusions and good pricing?  With 50 companies we think we can find you one.

4. It is our opinion there are workers compensation companies that insure a lot of contractors and they do everything possible to charge you as much as they can.   Instead of doing what is in the customer’s best interest they do what is in their best interest. We have better options for you.

5. Why should a customer dislike the company they’re with?  Why when they need help they get tortured?  When they call they don’t get a return call?  When they have a problem no one seems to want to help?   It shouldn’t be this way right?

6. You really are not going to like hearing this!  Most agency people are limited in what they know (they are so poorly trained it’s a disgrace).  They do not know the ins and outs of the liability or the worker’s compensation system.  They do not know about special credits, rating structures, experience modification factors, payroll rules, how to properly classify payrolls, etc.  And this goes for all areas of coverage: Liability, Umbrella Liability, Business Auto, Bonds, Group Health, etc.

7. Most insurance agency customer service people are paper pushers.  They have so much work they do not have time to properly check your liability and worker’s compensation policies.  Yes they are pleasant but they miss a lot of what it takes to properly service your account.

8. BEWARE!!!  If you have your workers compensation through a state or assigned risk program and you operate in other states you are exposed to a HUGE financial liability which may NOT be covered!   Most of you are not aware of this liability but one claim and you can be knocked out of business!   If you are in a state or assigned risk program and operate outside your state we STRONGLY RECOMMEND you look into this matter.

How We Can Help You

1. For contractors we have 50 liability insurance and 12 workers compensation companies to choose from.  More options mean better pricing and coverage!

2.  Regarding General Liability and Umbrella Liability we have companies that have less restrictive exclusions than others.   It is so critical you deal with an insurance broker who is a specialist, who understands the exclusions rather than a generalist.  Believe us most agencies even though they know more than you they still do not know what they’re doing.  We do not like to knock others but a lot of brokers and customer service personnel do not know what they are doing.

3. How would you like to get away from annual workers compensation audits?  Would you like to set up your policy from the start so you don’t overpay?   How about not owing large additional amounts at the end of your policy period?

4. Two of our companies allow you to take back control of payroll reporting.  So many contractors, on audit, are overpaying thousands, tens of thousands of dollars because their company is keeping important information from them.   From the beginning, we eliminate this problem.

5. Having cash flow problems?  One new customer whose premium was $49,100 only needed $427 to bind coverage.  His incumbent company was requiring a renewal deposit in excess of $8,000.

6. We DO NOT charge 10% service fees or separate $500 to $2,500 policy fees.  How agencies come up with these fees is baffling.  Actually it’s not.  It’s called greed.  We are that “Diamond in the Rough!”  We don’t do this to our customers (unless we have to insure you through NYS program…they do not pay us a commission.)

7. We have been in the insurance business since 1981.  We offer boutique service. We are specialists, experts and you personally will be dealing with the president who has 38 years experience.

Coverages We Offer – We Have 50 Insurance Companies To Choose From

Worker’s Compensation

Commercial General Liability

Commercial Umbrella Liability

Professional Liability

Bid & Performance Bonds

Business Auto Policy

NYS Disability

Property, Inland Marine

Examples of Savings

Long Island Plumber was going to pay $57,000.  We reduced his premium to $49,100, deposit was $427.  That was a $7,000+ savings!

Bronx Carpenter was paying $22,000.  We reduced his premium to $15,700.  That was a savings of $6,300!

Hudson Valley Roofing contractor was paying $57,000.  We reduced his premium to $44,500.  That was $12,500 savings!

Manhattan GC was going to pay $154,000.  We reduced his premium to $136,000.  That was a $18,000 savings!

Westchester Carpenter, Painter, Tile Contractor was going to pay $39,000.  We reduced his premium to $33,700.  That was a $5,300 savings!

BGES Group’s office, located in Larchmont, NY is a full service insurance agency offering, Property, Liability, Umbrella Liability, Business Auto, Bid & Performance Bonds, Inland Marine, Worker’s Compensation, New York State Disability, Group Health, Life insurance, Personal lines and Identity Theft.  

BGES Group are Worker’s Compensation Specialists for the States of New York, New Jersey and Connecticut – Issues we address: 1) Lowering pricing – we have specialty programs that can save you up to 40%; 2) Finding a new company; 3) Being cancelled or non renewed; 4) Audit disputes; 5) Company creating fictitious payroll at audit time; 6) Lowering high experience modifications factors; 7) Misclassification of payrolls; 8) Lowering or eliminating renewal deposits;   9) Getting coverage when you’ve been without for a few months; 10) Covering multiple states under one policy; 11) Eliminating 10% service or policy fees; 12) Timely issuance of certificates; 13) Always being able to get someone on the phone or by email when you need to.

Special Contractor Insurance Programs (NY, NJ, CT) – We we have 50+ insurance companies to market your general liability, umbrella liability, business auto, workers compensation, bid & performance bonds and group health coverages.  We help contractors set up proper risk transfer mechanisms.  If you’re a contractor we offer extensive information about insurance markets, coverages, risk transfer mechanisms, subcontractor screening, ways to lower your insurance costs that lower them.

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

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

e-mail: bgesgroup@gmail.com

website: http://www.bgesgroup.com

© – Copyright – 2020 – BGES Group

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