NY Contractors Insurance

In New York, carrying NY contractor’s insurance isn’t just good business practice, it’s a requirement. If you plan on working as a General or Home Improvement Contractor in the state of New York, you need to be licensed, and having sufficient insurance coverage is usually a condition of licensure. Licenses are issued at a local level, so if you’re doing work in New York City, for example, you need to apply for a license at the New York City Department of Buildings.

In New York City, whether you’re a general contractor, an electrician or a master plumber, you will be required to submit proof that you carry NY contractor’s insurance. For the contractors mentioned above, general liability insurance, worker’s compensation insurance, and disability insurance coverage are all required. Master plumbers, electricians and other contractors, however, can submit an Affidavit of Exemption from worker’s compensation and disability if they don’t have any employees, but this is not an option for general contractors. All are required to provide a minimum of one million dollars ($1,000,000) per occurrence in their general liability insurance policies.

While NY contractor’s insurance requirements are already relatively stringent, however, you also need to evaluate your business needs in order to discover whether or not you need to take out additional insurance policies.

Don’t let all the requirements and specifications overwhelm you. Consult with one of our NY contractor’s insurance specialists at ContractorsInsurance.org for advice and guidance today. You can reach us at (516) 294-1072 and send us your details today to receive a free quote.