Whether you’re laying down concrete in Queens, wiring a new build in Brooklyn, or managing a full-scale renovation in Manhattan, running a contracting business in New York comes with risk. That’s why having the right insurance is not just smart—it’s essential. One accident, one lawsuit, or one uncovered claim could jeopardize your entire livelihood.
To help you navigate the complexities of business insurance, here are the 10 Business Insurance Commandments every New York contractor should live by. Break them at your own risk!
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1. Thou Shalt Not Operate Without General Liability Insurance
No matter how careful you are on the job site, accidents happen. General liability insurance protects you from third-party claims of bodily injury, property damage, and legal expenses. Without it, one incident could result in thousands—if not millions—of dollars in damages. In New York, where lawsuits are common and property values skyrocket, this is non-negotiable.
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2. Thou Shalt Carry Workers’ Compensation Coverage (Yes, Even for One Employee)
New York State mandates workers’ compensation insurance for any business with employees, including part-time workers. It covers medical bills and lost wages if a worker is injured on the job. Don’t cut corners—if you’re caught without it, penalties include fines, criminal charges, and even business shutdown.
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3. Thou Shalt Not Misclassify Workers as Independent Contractors
Trying to avoid workers’ comp or unemployment insurance by calling employees “independent contractors”? Not only is this illegal in New York, but it can result in audits, hefty fines, and back payments. Know the law and classify correctly.
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4. Thou Shalt Insure Your Tools and Equipment
You can’t do your job without your gear. Whether it’s stolen from your truck or damaged on-site, insuring your tools and equipment ensures you can replace them fast and keep working. Inland marine coverage is your best friend here—it protects your tools even when they’re in transit or on various job sites.
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5. Thou Shalt Understand the Importance of Commercial Auto Insurance
If you or your employees drive vehicles for work—whether it’s a van full of plumbing gear or a pickup truck towing equipment—you need commercial auto insurance. Personal policies won’t cover accidents that occur while on the job.
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Need Reliable Contractor Insurance Coverage? BGES Group Has You Covered!
At BGES Group, we specialize in contractor liability and workers’ compensation insurance, tailored specifically for New York construction businesses. Whether you’re a sole proprietor or managing a growing crew, we understand your needs—and your risks.
We offer:
• Fast certificates of insurance
• Expert guidance to help you stay compliant
• Competitive pricing
• Same-day coverage in many cases
Call Gary Wallach at 914-806-5853 or email bgesgroup@gmail.com to get started today!
Don’t wait until something goes wrong—protect your business now with BGES Group!
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6. Thou Shalt Maintain Proper Umbrella Coverage
Umbrella insurance gives you extra liability protection beyond the limits of your general liability, commercial auto, or employer’s liability policies. In New York, where lawsuits can lead to massive verdicts, this added coverage can be the difference between surviving a legal storm or going under.
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7. Thou Shalt Not Overlook Professional Liability Insurance
If you offer design-build services or make recommendations that influence a project’s outcome, consider professional liability insurance. This protects you from claims of errors, omissions, or negligence that may arise from the services you provide—even if you did nothing wrong.
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8. Thou Shalt Review and Update Your Insurance Annually
Too many contractors set their policies and forget them. But as your business grows—adding employees, vehicles, or new types of work—your insurance needs change. Schedule an annual insurance review to ensure your coverage keeps up with your business.
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9. Thou Shalt Not Rely on Your Subcontractor’s Insurance Alone
Yes, you should always require certificates of insurance from your subs, but relying solely on their coverage leaves you exposed. If they let a policy lapse or don’t carry enough, your business could be on the hook. Make sure your policy extends coverage where needed and consider additional insured endorsements for extra protection.
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10. Thou Shalt Work With a Broker Who Knows Contractors
The contractor insurance world is full of jargon, exclusions, and confusing coverage options. Work with an expert who knows your industry and understands the risks specific to New York contractors. A good broker isn’t just a policy pusher—they’re your insurance advocate.
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Why Contractors Choose BGES Group
BGES Group is not your average insurance agency. We’re a workers’ compensation and contractor insurance specialist with decades of experience protecting businesses in New York, New Jersey, and Connecticut. We’ve helped thousands of contractors navigate audits, secure better rates, and stay protected from the unexpected.
Here’s why contractors trust us:
• We Know the Business: From carpenters to electricians to general contractors, we understand the unique challenges you face.
• We Move Fast: Need a certificate today? No problem. Need to bind coverage by tomorrow? We can do that.
• We Help You Save: By tailoring your coverage to your actual needs, we help you avoid overpaying or being underinsured.
• We Stay With You: We don’t disappear after the policy is sold. We’re here year-round to support your business.
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Contact BGES Group Today
Gary Wallach – Contractor Insurance Specialist
Phone: 914-806-5853
Email: bgesgroup@gmail.com
Website: www.bgesgroup.com
Whether you’re just starting out or running a multimillion-dollar operation, BGES Group has the tools and expertise to protect your business every step of the way.
Protect your business. Empower your growth. Partner with BGES Group today.