Use Quickbooks to Monitor Subcontractor Insurance Certificates

Why Bother?

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  • For injuries on the job – 
    If your subcontractor is not carrying Worker’s Compensation insurance, and a worker is injured, that worker, or that worker’s attorney, is going to be looking to your insurance for coverage.
  • For property damage on the job –
    If property is damaged on or around the site by the subcontractor, and the subcontractor has no insurance coverage, the injured party, or the injured party’s attorney, is going to be holding you, as the party responsible for bringing the subcontractor to the jobsite, accountable for the damage.
  • Your insurance coverage requires that all subs working on your project carry a minimal amount of General Liability and Worker’s Comp insurance. 
  • If you are not requiring the insurance and monitoring the coverage, your insurance company has the option of denying coverage to you for damages caused by your subcontractors because you are not in compliance with the insurance company contract.
  • If you are using the Builder-Resources Subcontractor Management System, the Terms and Conditions document requires in-place insurance coverage as a condition of the agreement.  
  • The Terms & Conditions also requires that your company be named as an “Additional Insured” on the policy.  
  • Frankly, being named as an “Additional Insured” has become an issue lately, but at least make certain that your subcontractor has the required insurances in place.