Episode description
As a landlord or property manager, do you ever worry that a maintenance vendor you send to a property might not have the correct insurance coverage? Dispatching a repairman with insufficient or expired insurance could create a liability on your property management business. Further, its a big job to track all of the insurance policies from vendors to make sure they remain in compliance with your standards for coverage.
On this episode of Property Management Brainstorm, Bob discusses the topic of tracking certificates of insurance with Dave Bixler of Thimble. Dave explains a service called Certificate Manager that helps landlords and property managers make sure vendors and contractors have the right policy in place and provides for tracking Certificates of Insurance in one online location.
Topics Covered
[2:55] Dave Bixler introduces himself and Thimble.
[4:15] Why it's important to make sure that those vendors have proper insurance coverage.
[4:55] What type of insurance should a landlord and property manager make sure their vendors have in place before sending them to a property?
[8:20] What should landlords and property managers obtain as proof of insurance from a vendor or contractor and how Thimble Certificate Manager can help keep these documents organized?
[11:00] Recommended insurance levels for various types of contractor trades.
[12:45] Best practices for utilizing Certificate Manager for tracking Certificates of Insurance.
[16:15] Are certain contractor trades risker and require higher insurance limits? .
[22:30] Obtaining insurance policies for one-time vendors or contractors who may be too small to afford annual insurance policies.
[28:30] Thimble's program for members of NARPM (National Association of Residential Property Managers).
[30:00] Dave shares a personal story about how he came up with the idea for Certificate Manager.
Connect to Learn More About Small Business Insurance From Thimble
Thimble Certificate Manager for NARPM Members
Connect with Bob Preston
https://www.propertymanagementbrainstorm.com/
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