If you’re a New York contractor, this news could have a major impact on your business. Unless things change, a major insurance company is set to non-renew all contractor insurance policies in New York, effective April 1, 2025.
We are not putting the company’s name in writing for legal reasons, but if you call us, we will tell you over the phone.
This could leave thousands of contractors scrambling for coverage in an already difficult insurance market. If you are insured with this carrier, you must take action now to avoid gaps in your coverage, skyrocketing premiums, or being left without insurance altogether.
Why Is This Happening?
The New York insurance market for contractors is in crisis. High claims, rising legal costs, and strict labor laws—especially Labor Law 240/241—have made it harder for insurers to remain profitable.
As a result, many large carriers are either:
- Leaving the market completely
- Restricting who they will insure
- Raising rates significantly
This latest decision by a major carrier to drop all New York contractors is a clear warning sign that the insurance landscape is becoming even more challenging.
If you currently have a policy with this company, waiting until your renewal notice arrives will put you at a major disadvantage. Many contractors will be competing for limited policies, and the best options will disappear quickly.
What Should You Do Now?
The best way to protect your business is to start exploring your options immediately. BGES Group specializes in helping contractors secure quality coverage at competitive rates, even in this tough market.
We work with top-rated insurance companies that are still actively writing contractor policies in New York, and we know how to navigate the challenges posed by Labor Law 240/241 and other industry risks.
10 Great Reasons to Contact BGES Group for Your Business Insurance Needs
At BGES Group, we’ve been helping New York contractors get the best possible coverage at competitive rates for years. If you’re facing a non-renewal or want to explore better insurance options, here are 10 reasons why you should contact us today:
1. We Specialize in New York Construction Insurance
Many general insurance brokers don’t fully understand the unique risks New York contractors face. We do. Our expertise ensures you get the right coverage—without paying for things you don’t need.
2. Exclusive Programs for High-Risk Trades
Some agencies cannot get affordable coverage for roofers, scaffolders, and demolition contractors—but we can. We have access to exclusive programs designed for high-risk construction trades.
3. Competitive Pricing on General Liability & Umbrella Insurance
As more carriers leave the market, rates are expected to rise. We work with multiple top-rated insurers to find you the most competitive pricing available.
4. Labor Law 240/241 Coverage Included
Many policies exclude or limit coverage for these costly labor law claims, leaving contractors exposed to massive lawsuits. We make sure your general liability and umbrella insurance include proper protection for these claims.
5. Fast Turnaround on Quotes
If your current carrier is non-renewing your policy, you don’t have time to wait. Our team works quickly and efficiently to get you the best quotes and coverage without delays.
6. Workers’ Compensation Solutions for All Contractors
Whether you need a standalone workers’ comp policy or a bundled solution with payroll services, we have the right coverage for you—at the best possible price.
7. Personalized Service from Industry Experts
When you call BGES Group, you’re speaking directly with industry professionals like Gary Wallach, who has decades of experience in New York construction insurance. We work for YOU—not the insurance companies.
8. Assistance with Compliance & Certificate Management
Keeping up with insurance compliance and certificates is a hassle for many contractors. We help make sure your policies meet owner and GC requirements so you don’t get held up on job sites.
9. Access to Multiple Top-Rated Insurance Carriers
Since one major carrier is leaving the market, it’s more important than ever to have options. We work with a wide range of top-rated insurance companies that are still writing contractor policies in New York.
10. We Are Contractor Insurance Specialists
Unlike agencies that handle all types of insurance, we focus specifically on contractors. This means we know exactly what policies, coverages, and endorsements you need to stay protected—and compliant.
What Happens If You Don’t Take Action?
If you wait until your policy is non-renewed, you could face:
- Higher premiums due to limited availability
- Coverage gaps that put your business at risk
- Delays getting insured, which could impact your ability to work
By acting now, you can secure a better policy at a competitive price before the rush begins.
Contact BGES Group Today
If you want to know the name of the carrier that’s dropping all New York contractors, call us. We can discuss your current policy and help you find a better, more reliable insurance solution.
📞 Call Gary Wallach: 914-806-5853
📧 Email: bgesgroup@gmail.com
We specialize in protecting New York contractors, and we’re here to make sure your business stays covered and compliant—no matter what happens in the insurance market.
⏳ Don’t wait until it’s too late. Call us today!