Construction Insurance
Schaefer Enterprises knows that if you work in the construction industry, you are part of one of the world’s most dangerous businesses. Our knowledge of the New York State labor laws, specifically pertaining to construction, gives business owners peace of mind as well as cost savings and a leg up on the competition. We offer a thorough review of all your subcontractors’ ACORD certificates and sub agreement contracts to make sure you are covered adequately.
To protect yourself, your family and your business, consider the following policies if you are a contractor in the State of New York.
Workers’ Compensation
Having Workers’ Compensation Insurance is required by New York State. It protects against lawsuits stemming from workplace accidents. It provides medical care to injured employees as well as compensation for lost income.
General Liability
General Liability Insurance protects against accidents and injuries on company premises and customer property.
Disability
Income is paid under a disability policy that is not covered under workers compensation benefits. It is usually a percentage of the insured’s income prior to the disability. However, it may be limited on the amount and duration of benefits. It is required by New York State if you have any payroll.
Umbrella
Umbrella insurance protects against liabilities and losses after primary insurance benefits have been exhausted. This policy does not apply to professional liability claims or property limits.
Inland Marine
Coverage for property damage and/or destruction of an insured’s personal property. Also includes liability coverage for damage or destruction of someone else’s property under his or her care, custody or control. It is most commonly used for tools and equipment.
Builders Risk
Builders Risk protects against damage to or destruction of buildings or other structures during their construction and possibly for a specified time afterward. Typically the owner or builder purchases this coverage for all parties involved at a project site. It also covers materials in transit, losses due to ordinance or laws, errors and omissions and fire department service charges.
