Construction Insurance Broker Providing New York State Solutions

In New York State, construction insurance is a must-have for any project, big or small. New York State requires a minimum of $1 million in liability insurance for most construction projects.

As a construction insurance broker, our team helps clients navigate the complex world of construction insurance. We've seen firsthand how a single accident can bring a project to a grinding halt.

With our expertise, you can rest assured that your project is protected from unexpected events. We'll work with you to create a customized insurance plan that meets your specific needs.

Our team has extensive knowledge of New York State insurance regulations, ensuring that your project complies with all necessary requirements.

A comprehensive review of your existing construction insurance policy is a crucial step in finding the right insurance solution for your business. This review should be done by a construction insurance broker, and it should include a thorough examination of your current policy, as well as any gaps in coverage that could leave you exposed to uncovered claims.

A construction insurance broker should review all of your subcontractors' ACORD certificates and sub-agreement contracts to ensure you have adequate coverage. This includes reviewing for exclusions and regulatory considerations, such as minimum coverages, to protect yourself and your business.

A good construction insurance broker will offer a range of insurance solutions to give you confidence in the security of your assets. These solutions may include:

A comprehensive review of your existing construction insurance policy is crucial to ensure you're adequately protected. This review should be done by your new insurance company or broker.

They should review your current coverage to give them a well-rounded view of your construction business and the types of projects you work on. This will also reveal any gaps in coverage that leave you exposed to uncovered claims.

A thorough review of your current policy will include checking your subcontractors' ACORD certificates and sub agreement contracts to make sure you're covered adequately. This is essential to protect yourself and your construction business.

Your insurance company or broker should also review exclusions and regulatory considerations, such as minimum coverages, to ensure you're compliant with industry requirements.

Owner-controlled insurance programs, or OCIPs, can help project owners or developers streamline the insurance solutions covering a specific project.

An OCIP is a type of insurance program that is designed to provide comprehensive coverage for a project, including liability, property damage, and workers' compensation, all under one umbrella.

By having one program that covers all aspects of the project, owners can simplify the insurance process and reduce administrative burdens.

OCIPs can be particularly beneficial for large or complex projects that involve multiple contractors and subcontractors.

They can also help project owners manage their risk and reduce potential liabilities.

By doing so, owners can have greater control over their insurance program and make more informed decisions about their project's risk management.

Subcontractor default insurance is a comprehensive option to help you manage your subcontractor risk exposure. This type of insurance can provide financial protection in case a subcontractor fails to fulfill their obligations.

Subcontractor default insurance can be tailored to fit your specific business needs, offering flexible coverage options and policy terms. By having this insurance, you can avoid costly delays and financial losses due to subcontractor default.

As a construction insurance broker, we specialize in providing expert guidance and tailored solutions for our clients. Our areas of expertise include Builder's Risk, which protects construction projects from damage or loss due to accidents, theft, or natural disasters.

We also have extensive experience in Professional Liability, which covers professionals in the construction industry for errors or omissions in their work. This includes Safety and Loss Control, which helps prevent accidents and minimize losses on construction sites.

Subcontractor Default Insurance is another key area of expertise, which protects contractors from financial losses if their subcontractors fail to perform their work. We also offer Surety, which guarantees that contractors will complete their work as promised.

Here are some of the specific areas where we excel:

Our company operates with a national construction insurance platform that puts your interests first, serving as a trusted partner within your business.

We've developed a deep understanding of construction risk management and operational goals by working closely with clients. This allows us to tailor construction insurance programs to meet specific business needs.

Our team is made up of experienced professionals who listen, learn, and develop construction insurance programs that build a lasting and professional partnership.

The Schaefer Enterprises, Inc. Construction Group provides expert guidance on construction insurance policies and regulatory issues for a wide range of contractors.

They cater to general contractors, sub-contractors, sheet metal manufacturers, roofers, steel erectors and fabricators, steamfitters, HVAC contractors, electrical contractors, and ready mix contractors.

You can call them at 877.237.2481 to learn more and discuss your construction insurance needs.

Our Team Operations are built on a foundation of trust and partnership. We've created a national construction insurance platform that prioritizes your interests.

We work closely with our clients to gain a deep understanding of their construction risk management and operational goals. This allows us to develop tailored construction insurance programs that meet their specific needs.

Our team operates as a trusted partner within our clients' businesses, fostering a lasting and professional partnership. We listen, learn, and apply our expertise to create customized solutions.

By working together, we build a strong foundation for success and help our clients achieve their business objectives.

Statewide Commercial Insurance Brokers has over 27 years of experience serving contractors and subcontractors, offering comprehensive insurance solutions to safeguard against financial losses.

With their deep industry knowledge, they provide expert guidance to navigate the complex insurance landscape.

Their insurance solutions address the multifaceted risks of construction work, including job-site accidents, workers' injuries, and damage to essential equipment.

They also offer assistance with bonding needs, such as licensing or guaranteeing contract and financial obligations.

Statewide Commercial Insurance Brokers offers a range of insurance solutions, including general liability insurance, workers' compensation insurance, commercial auto insurance, and surety bonds.

Their team recognizes the critical need to protect construction businesses from unexpected events, such as third-party claims of bodily injury or property damage.

Some of the key coverages offered by Statewide Commercial Insurance Brokers include:

Statewide Commercial Insurance Brokers also offers specialized solutions for complex risks, such as builder's risk and contractor's equipment, contractors environmental legal liability, and designers and contractors professional liability.

Their team is dedicated to providing expert guidance and support to construction businesses, helping them to navigate the complex insurance landscape and protect their assets.

With their industry-specific approach and comprehensive coverage options, Statewide Commercial Insurance Brokers is a trusted partner for construction businesses looking to safeguard against financial losses.

Optimizing insurability for construction projects requires careful planning and attention to detail. Two essential components to consider are effective risk register reviews and a comprehensive insurance program.

Effective risk register reviews are a crucial step in optimizing construction insurance. This involves regularly reviewing and updating your risk register to identify and mitigate potential risks. By doing so, you can reduce the likelihood of costly claims and ensure your project stays on track.

Liberty Mutual Insurance offers a range of solutions to manage complex risks in the construction industry. Their flexible and industry-specific approach includes key coverages such as builders risk and contractor's equipment, commercial auto, and subcontractor default.

A knowledgeable construction insurance broker will know the questions to ask in order to provide the right policy for your construction project(s) and your business.

They'll want to know about the type of construction projects you work on, where, how big and for whom, what kinds of sub-contractors you use, and what types of equipment you use.

Your construction insurance policy is only as good as the language included within.

A good broker will ask questions about the building height and number of stories, to ensure you have adequate coverage.

They'll also want to know about the type of equipment you use, to make sure you're adequately protected in case of equipment failure or theft.

Optimizing insurability for construction projects requires careful consideration of several key factors. Two essential components to focus on are effective risk register reviews and robust safety specifications.

Effective risk register reviews are a crucial step in optimizing construction insurance. This involves regularly reviewing and updating your risk register to ensure you're aware of potential hazards and have strategies in place to mitigate them.

Robust safety specifications are also vital for construction projects. A robust set of safety specifications can help prevent accidents and reduce the risk of loss.

To manage complex risks, construction companies can consider a range of insurance solutions. These may include builder's risk and contractor's equipment, commercial auto, and designers and contractors professional liability, among others.

Here are some key insurance coverages to consider: