Tracking Subcontractor Insurance

In the construction industry, it is very important that subcontractors have valid insurance policies. In Sage 50, we refer to subcontractors as vendors. A vendor with expired insurance increases your liability and therefore is a risk to your business. It is critical that you have a way to determine which vendors you want to do business with. One way to do that is to track vendor insurance expiration. In Sage 50, you can track insurance information for 4 types of insurance: worker’s compensation, general liability, umbrella, and automobile insurance.

For each insurance type, you can track the policy expiration date, insurance company name, and policy number. If you need to track additional information, you can add a note.