Contractors’ workers’ compensation insurance in New York covers medical expenses and lost wages for employees affected by work-related injuries or illnesses on the job site. This no-fault coverage is a critical component of any construction business that employs staff.

Employers without workers’ compensation coverage for contractors in New York may face serious consequences, including fines, stop-work orders, and delays on permitted projects.

New York workers’ compensation insurance for contractors is often required to secure permits, bid on jobs, or satisfy local licensing and contractual obligations. Requirements may vary depending on the municipality and the scope of work.

New York Contractors’ Workers’ Comp Requirements
We recommend all contractors operating in the state of New York visit the New York State Workers’ Compensation Board to review current coverage requirements, regulations, and employer responsibilities.

Contractor surety bonds in New York are a consumer protection product that guarantee compliance with local regulations and contractual obligations—including timely payments to suppliers and successful completion of construction work.

New York contractor surety bonds strengthen your professional reputation with project owners, help secure permits, and are commonly required for public or private projects.

Surety bonds for New York contractors typically cover:

• Failure to complete the project or meet contractual obligations
• Violations of license or permit requirements
• Unpaid supplier and labor claims

These bonds are designed to protect project owners from financial losses due to contractor default or nonpayment.

New York Contractor Bond Requirements
We recommend all contractors operating in the state of New York consult their local licensing authority to confirm the specific bond amounts and types required for their trade and jurisdiction.

New York commercial auto insurance for contractors protects your business-owned vehicles—such as work trucks, vans, and service vehicles—against accidents, theft, and property damage. It also helps safeguard your company from liability claims that could lead to costly lawsuits or project delays.

Commercial auto insurance for New York contractors is essential for business owners who use vehicles to transport tools, materials, or crews between job sites. Policies can be tailored to include comprehensive, collision, hired non-owned auto (HNOA), and medical payments, depending on your business needs.

New York’s minimum commercial auto insurance requirements are:

• Bodily Injury Liability: $25,000 per person and $50,000 per accident
• Property Damage Liability: $10,000 per accident
• Personal Injury Protection (PIP): $50,000 per person

We strongly recommend raising your policy limits to a combined single limit (CSL) of $1 million to ensure stronger protection and meet the expectations of commercial clients, general contractors, and project owners.

New York contractors’ inland marine insurance provides all-risk protection for tools, equipment, machinery, and building materials while in transit, at job sites, or stored off-premises. This flexible coverage helps safeguard mobile assets critical to your daily operations.

Without contractors’ equipment insurance in New York, your business may face serious financial setbacks due to theft, vandalism, or accidental damage during transport or on-site use.

Inland marine coverage for New York contractors typically includes:

• Customizable limits for tools, machinery, and equipment
• Protection against water, fire, and other covered perils
• Installation floaters for materials and supplies at job sites

New York Contractors’ Inland Marine Recommendations
Consult with one of our insurance specialists at Fairbanks Insurance Brokers to align your coverage with common construction exposures and ensure your business stays protected—wherever the job takes you.