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What is a COI?
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Written by Agent
Updated over 3 months ago

What is a Certificate of Insurance (COI)?

A Certificate of Insurance (COI) is a document issued by an insurance company or broker that serves as proof of insurance coverage. It provides essential details such as the policyholder’s name, effective policy dates, types of coverage, policy limits, and the insurer’s information. COIs are typically one-page documents that are widely used in business transactions​. Potential clients, service providers, ecommerce platforms, and more may request a COI before conducting business.

The Purpose and Significance of COIs

Certificates of Insurance are very important in many business contexts:

  1. Proof of Coverage: COIs provide quick and efficient proof of insurance coverage to customers, contractors, or other third parties. This is particularly important for businesses that engage in contractual work, as it assures all parties that the business has adequate insurance to cover potential liabilities​.

  2. Risk Management: By collecting COIs from subcontractors and vendors, businesses can protect themselves from potential risks associated with third-party actions. This includes ensuring coverage for workplace accidents, property damage, and other liabilities that could arise.

  3. Compliance and Contractual Requirements: Many contracts require proof of insurance before work can begin. For example, landlords often require a COI before leasing commercial property to ensure tenants have liability coverage. Similarly, clients may request COIs from contractors to mitigate the risk of financial losses due to accidents or substandard work​

Already a customer and need to download a Certificate of Insurance? For detailed instructions and a step-by-step guide, click on the following link: How Do I Get a COI?.

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