Insurance Certificate Tracking - you better do it!
Posted by Nate Burnes on Mon, Jun 28, 2010
Are you responsible for property management? Do you have vendors coming on site? Do they all have proper insurance? If not, you could be playing with fire.
Tracking insurance certificates is time consuming and tedious. There is little satisfaction in the hours spent calling and mailing vendors. But not doing it is like playing Russian roulette. Its only a matter of time before a contractor is injured or something is damaged at one of your sites. Without proper insurance you and your clients are put at risk.
Traditional property management tools allow you to track expiration dates for workers comp and liability insurance. But does a process that requires the certificates for payment really work? Not really, because the vendor has already done the work at your site and you hopefully, dodged another bullet.
You need a system that tracks insurance and proactively notifies the vendor (and you) through email when the insurance is due to expire. Correspondence and notes are easily recorded so you know the status. When the certificate is sent you can even upload the document for future reference on the vendor.
Make sure you're covered. Learn more at Placeforce.com
