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What Is a Certificate of Insurance (COI)? A certificate of insurance (COI) is a document issued by an insurance company or broker. The COI confirms that an insurance policy is in place and...
Understanding the Context
A COI is a document used to provide evidence of insurance coverage. The certificate is a snapshot that provides verification of the insurance currently in place and typically includes type of coverage, limits, policy term, policy number, and carrier name, among other information. A certificate of insurance (COI) is a document from your insurance company that provides a summary of your business insurance coverage. This makes it easy for you to show your clients your coverage before they start working with you.
Key Insights
Proof of insurance is essential for small businesses & contractors to prevent risk/liability. Learn what a COI is, how to get it, who needs it, and why it’s important. What is the difference between a COI and an SR-22? Although a COI and SR-22 are both documents that act as proof of insurance, the reason you would need to show either document differs. What Is a Certificate of Insurance (COI)?
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A Certificate of Insurance is a document issued by an insurance company or broker that verifies the existence of an active insurance policy for a policyholder. It summarizes the insurance coverage, outlining essential details such as coverage limits, policy type, and effective dates. Need proof of business insurance? Get a Certificate of Insurance (COI) from biBerk in minutes. Easy online access for small businesses, contractors & more. A COI isn’t a formal contract between two parties but an informal document providing proof of insurance.
The three major types of COI include Certificate of Liability Insurance, Certificate of Workers Compensation Insurance, and Certificate of Auto Liability Insurance.