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Contractors Insurance in New York

The state of New York only on requires Asbestos Abatement contractors to be licensed by the state. All other contractors are licensed at the local level. Licensing is administered by the New York State Department of Labor. Contractors should visit the website of their local jurisdiction for complete licensing information. For example, you can do a search like this: Buffalo New Your Contractor licensing and then choose a website that ends with .Gov

Workers’ compensation insurance must be carried by all businesses in New York that have at least one employee. Sole proprietors or partnerships without employees are exempt but can purchase coverage for themselves if they choose to. Workers’ compensation can be purchased from an authorized commercial provider or from New York’s state-administered workers’ compensation fund.

Protect Your Business with Contractors Insurance from Fairbanks Insurance

All contractors operating in the state of New York face many risks with every job and at every worksite. Whether you are a general contractor, subcontractor, or specialty contractor, the most affordable method to mitigate these risks is to purchase an affordable contractors insurance package from Fairbanks Insurance Brokers.

Here is What We Recommend:

General Liability


A contractor’s general liability policy should be the foundation of a comprehensive portfolio of commercial insurance coverages. Offered as a stand-alone policy or included in a Business Owners Policy, your general liability insurance provides the liability protection that every contractor requires to mitigate everyday risks. A general liability policy is typically made up of the following coverages:

  • Bodily injury and property damage liability
  • Contractual Liability
  • Products Completed Operations
  • Personal liability
  • Defense Costs

Many insurance companies will also offer various riders that you can add to your policy in order to broaden your coverage to meet your specific needs for protection.

Workers' Comp


Almost every state requires workers’ compensation coverage when a business has one or more employees or uninsured sub contractors and New York is no different. Contractors should remain diligent about financially protecting their employees from injuries or illnesses that are work-related.

Commercial Auto


Whether you use passenger vehicles, trucks, trailers, or vans for your business, it’s most important that you purchase commercial auto insurance to mitigate your risk from third-party legal actions or damage to your work vehicles.

Tool Coverage


A contractor’s tools and equipment are always at risk for damage or theft. Contractors in all trades can depend on our Contractor Inland Marine policy to provide coverage for their tools and equipment and their employees’ personal tools. They may also use the policy to cover their “installation” risk.

Surety Bonds


Surety bonds come in many forms and are regularly required for licensing, bidding, payment, and performance. Bonds should not be confused with insurance because they are more like a credit line (that must be repaid) than an insurance policy. Fairbanks Insurance Brokers represents multiple bonding companies and will make sure that your business will pay the most affordable rate possible.

Fairbanks Insurance Brokers is a leader in providing contractors insurance and is dedicated to providing Contractors and Builders the finest insurance protection at the lowest rates throughout the construction community.

With savings up to 65% on General Liability, Workers’ Compensation, Commercial Auto and Bonds, you can count on us to do the heavy lifting and provide you the most competitive quote that includes all the discounts for which you qualify.

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