Blog Post

Insurance Certificate Management in the Home Service Industry

COI Management | June 1, 2022
Insurance Certificate Management

If you manage providers or servicers in the Home Service Industry, you may be questioning why managing certificates is important and if all the headache of the collection process is worth it. PlusOne Solutions offers insurance certificate management in the Home Service Industry for this reason.

Transfer Your Financial Risk

We know that insurance is one of the best ways to transfer financial risk. It is a way to pay for accidents without suffering the entire cost. If your provider or servicer accidentally injures someone or causes property damage while working, they should be responsible for that accident, and collecting through insurance can be good for both you and them. If you collect their certificate of insurance prior to the accident, then you know which insurance company to contact to file a claim. Waiting to try and collect a certificate afterward may mean you never get a response from the provider. 

Because accidents don’t happen often it can be easy to let the collection of certificates of insurance fall to the wayside and perhaps not take it seriously. Your organization may also take the hit and either pay or let their insurance pay for the accident. However, these costs can add up over time. In addition, it can cause your organization’s insurance premiums to increase. Especially if you have a larger or growing network or extended workforce, having an insurance certificate management program in place can keep these costs down and alleviate unnecessary stress if you have a certificate on-hand to begin with.

Are you Short Providers or Servicers? 

I often hear that holding strong to compliance requirements such as requiring a certificate of insurance prior to work is a challenge because it can already be difficult to find providers and servicers, especially as we see a decrease in the number of individuals who are specializing in the trades. Your insurance certificate management program should take this into consideration. Instead of penalizing, reward providers who do submit their insurance by providing them more work when you are able. This creates a strong relationship, and this is going without saying, with the types of companies that you want to work with. Companies who stay current on compliance items such as insurance, licensing, and background/drug screenings are more likely to be reputable who will provide better work and customer service.

Make Insurance Management Actually Work for You

I see a lot of companies that go through the motions of an insuranceInsurance Certificate Management certificate management program. They ask for a certificate of insurance when they recruit, and some will attempt at renewals. More often than not, in the end it never seems to work. Sadly, I hear stories of major accidents happening and no certificate is anywhere to be found after digging through emails and files. Part of the problem is lack of visibility to the data. What is unfortunate, is that hours were spent requesting and collecting. 

Create a program that is streamlined, a single source to submit certificates, a central repository to store the certificates of insurance, and reporting to show if a provider does have insurance. If this is out of reach with your organization’s resources, you may consider outsourcing this, which can be more affordable and accurate than doing in-house. By putting a program in place, it allows you the ability to reward providers who do carry insurance and send more work and dispatches their way. In the long run, it will pay off.     

Contents are provided for information purposes only and should not be construed as legal advice. Users are reminded to seek legal counsel with respect to their obligations and use of PlusOne Solutions services.

About PlusOne Solutions

PlusOne Solutions has been an industry leader in the risk management field by specializing in compliance programs that meet the complex challenges of geographically dispersed contractors, vendors, and employee networks. PlusOne Solutions protects companies from possible financial, legal, and reputational risks associated with contractor and vendor relationships while creating safer work environments. To learn more, visit

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