New York Contractor Insurance in 2025: Why Costs Are Exploding & How to Stay Ahead

Insurance premiums for contractors in New York are rising sharply in 2025. This increase is driven by Labor Law §240 lawsuits, higher medical costs, and fewer insurance carrier options. Contractors now spend nearly double the national average on insurance, threatening profit margins and competitiveness. This article breaks down why costs are exploding—and what smart contractors can do to protect their business, refine bids, and stay ahead.