Spreadsheet, COI Keeper or compliance software: how should a small contractor track COIs?

A spreadsheet works if you have a handful of subs and someone who checks it every week. A simple tool like COI Keeper fits when chasing renewals eats your time. Full compliance software makes sense when you run many jobs with detailed insurance requirements and a team managing them.

We make COI Keeper, so weigh this comparison with that in mind.

What does any COI tracking method need to do?

It needs to keep every sub's coverage current and show you a problem before you pay. Whatever you use, it should handle five jobs:

1. Collect a current certificate of insurance (COI) from each sub, with your company as certificate holder.
2. Check it against what your subcontract requires: coverage types, limits and any endorsements.
3. Track every policy's expiration date, not one date per sub. The soonest one is what matters.
4. Chase renewals before policies expire, ideally 30 days ahead, with the sub's insurance agent copied.
5. Act on lapses before a payment goes out, and keep a record for claims and your insurance audit.

How do the three options compare?

The main differences are who does the typing and chasing, how much gets checked, and what it costs.

When is a spreadsheet enough?

A spreadsheet is enough when you have a handful of subs, few policies renewing each month, and one person who opens it every week and sends the renewal requests.

• It works when the list is short and someone owns it. Our free COI tracking spreadsheet works out each sub's soonest expiration and status, and shows “Hold” when coverage has expired.
• It breaks when nobody has time to open it. A spreadsheet doesn't send reminders or warn anyone. You find out a policy lapsed when you look, or when there's a claim or an audit.
• Watch for tracking one date per sub. A sub's general liability, auto and workers' comp policies often expire on different dates.

When does COI Keeper fit?

COI Keeper fits a general contractor with about 5 to 100 subs who wants the tracking and chasing done without a compliance person.

• What it does: you forward the certificate your sub emailed you, and the policy types, limits and expiration dates are read for you to confirm. Subs get reminders 30 days, 14 days and on the day a policy expires, with their insurance agent copied and a link to upload the renewal. Subs don't need an account. Lapsed subs are flagged “Hold payment”, and you get an email when something needs your attention, like a new certificate to confirm or a policy that expired.
• What it doesn't do: it reads standard ACORD 25 certificates. It flags limits below your minimums, but it doesn't review endorsements or policy wording; that's still a job for your insurance agent. The audit report is coming soon, not available yet.
• Price: free during the beta. After that, Crew is $19/month for up to 25 subs and 1 user, and Company is $39/month for up to 100 subs and up to 5 users (coming soon). See pricing.

When do you need full compliance software?

Consider full compliance software when you manage many jobs and many vendors, owners or lenders set detailed insurance requirements, and several people share the work.

Products in this category often add requirement checks per project, endorsement review, connections to project management or accounting tools, and in some cases a service team that chases certificates for you. Pricing and contract terms vary, and many vendors quote on request. Before you sign, ask:

• What does it cost per year, and is there a setup fee or a minimum contract length?
• Does anyone review endorsements, or does it only read the certificate?
• Who pays: you, or your subs and vendors?
• Can you export your certificates and history if you leave?

How do you choose?

Start with the simplest option that you'll actually keep up with, and move up when it stops working.

1. Count your subs and how many policies renew in a typical month.
2. Decide who does the work and how much time they really have each week.
3. Check what you must prove. Your subcontracts, your owners and your insurance audit set what records you need.
4. Start free. Use the spreadsheet, or try COI Keeper while it's free in the beta.
5. Move up when you miss things: a lapse you found late, renewals nobody chased, or an audit you couldn't support.

Whatever you use, remember that a certificate is a snapshot on the day it was issued; the ACORD 25 says it's for information only. Additional insured status comes from an endorsement to the sub's policy, not from a checkbox on the certificate. For the full routine, see how to track subcontractor certificates of insurance, and for what to do before a check goes out, see how to avoid paying an uninsured subcontractor.

FAQ

This guide is general information, not legal or insurance advice. Talk to your insurance agent and attorney about what to require from your subs.