Surviving the 2025 Contractor Insurance Shake-Up: What You Need to Do Now

Attention New York contractors: A major insurance company is set to drop all contractor policies starting in April 2025. This carrier has been a go-to for great coverage and competitive rates, but like all good things, this too is coming to an end.

What does this mean for you? If you don’t act now, you could be left scrambling for coverage—risking gaps in protection, higher premiums, and even difficulty finding a new policy.

The key to securing the best rates and coverage in this changing market? Get organized. Follow these step-by-step instructions to prepare yourself before renewal time.


Step 1: Set Up an Insurance Folder on Your Computer

You need all your key insurance documents in one place for easy access. Create a dedicated folder on your computer and save everything in PDF format. This will make working with brokers and insurance companies much smoother.


Step 2: Gather Your Current Policies

Locate and save digital copies of all your current policies, including:
✔️ General Liability
✔️ Workers’ Compensation
✔️ Business Auto
✔️ Umbrella/Excess Coverage (if applicable)


Step 3: Complete a Contractor Questionnaire

Insurers need detailed information to assess your business properly. We can provide you with a contractor questionnaire—fill it out and save it in your folder.


Step 4: Write a Detailed Business Description

Don’t just say you do “all kinds of work”—be specific. A well-documented business description helps insurers understand your operations and lowers your risk profile.

  • What type of work do you specialize in?
  • Do you work at heights? If so, how high?
  • What fall protection and safety procedures do you follow?

Insurers want to see that you take safety seriously. The more detailed you are, the better your chances of securing good coverage.


Step 5: Track Your Insurance History (Last 5-7 Years)

Identify all the insurance companies you’ve used for:
General Liability
Workers’ Compensation
Business Auto

Save this list in your folder. You will need it to obtain updated loss runs.


Step 6: Request and Store Your Loss Runs

Loss runs are reports showing your claims history. Insurance carriers will not quote your business without them.

  • Contact your past insurance companies and request loss runs covering at least the past 5 years (7 is even better).
  • We can provide you with pre-written request letters—just update the dates and send them out.

Save all your loss runs in your folder as soon as you receive them.


Step 7: Prepare Resumes for Company Owners

If you’re a new company, having a professional resume outlining your experience is critical.
If you’ve been in business for a while, a resume may not be required, but it’s still good to have in your folder.


Step 8: Review Your Subcontractor Agreements

If you use subcontractors, you must have:
📌 A written insurance and hold harmless agreement for each sub
📌 Signed and dated copies of these agreements
📌 A certificate of insurance from each sub showing they have proper coverage

This is critical—if you don’t have these in place, you could be on the hook for their claims.


Step 9: Create or Update Your Safety Manual

Insurance companies love to see a written safety plan. If you don’t have one, it’s time to put one together. Save it in your folder so it’s ready to send to insurers.


Step 10: Work with a Specialist Who Puts You First

With a major insurer leaving the market, competition for coverage will be tougher than ever. You need an insurance agency that:
✅ Understands New York’s contractor market
✅ Works with multiple carriers to find you the best deal
✅ Provides personalized service—not a call center runaround

At BGES Group, we’re not like the big corporate agencies where one account executive juggles 100+ clients. We operate like a Mom-and-Pop boutique, giving each contractor the personal attention they deserve.

✔️ When you call, we answer the phone.
✔️ Need a certificate? We get it done ASAP.
✔️ You’ll work with the same knowledgeable, street-smart expert year after year.


Don’t Wait – Start Preparing Now!

The 2025 insurance shake-up is coming fast. If you wait until the last minute, you could find yourself without coverage or paying through the roof.

Let BGES Group help you prepare. Call or email us today to get started.

📞 Gary Wallach – (914) 806-5853
📧 bgesgroup@gmail.com
🌐 www.bgesgroup.com

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