What Is a Certificate of Insurance (COI) and Why Do You Need One?

What Is a Certificate of Insurance?

A Certificate of Insurance (COI) is a one-page document that summarizes the key details of your business insurance coverage. It serves as proof that you have active insurance and is required by clients, landlords, general contractors, government agencies, and event venues before you can do business with them.

A standard COI includes:

• Your business name and address
• The name of your insurance carrier
• Policy numbers and effective/expiration dates
• Types of coverage and policy limits
• Additional insured parties (if applicable)

Who Typically Requests a COI?

• General contractors — Before allowing subcontractors on a job site
• Commercial landlords — Before signing a lease
• Corporate clients — Before signing a service contract
• Government agencies — For licensing and permit applications
• Event venues — For vendors and exhibitors

What Is an Additional Insured?

When a client or GC asks to be listed as an additional insured on your policy, they're requesting that your insurance also extend coverage to protect them for claims arising out of your work. This is a common requirement in contracts and can usually be added to your policy at little or no cost.

How to Get a COI Fast

In most cases, your insurance agent or broker can issue a Certificate of Insurance within minutes after receiving your request. At InsuranceBind, we offer same-day COI issuance for all active policies.

You should never hold up a contract or job start because of a COI request. If your current broker is slow to respond, that's a sign it might be time to switch agencies.

Does a COI Guarantee Coverage?

No. A COI is a snapshot of your coverage at a point in time. It does not guarantee that your policy is still active or that a specific claim will be covered. Always maintain your policy in good standing and keep your agent informed of any changes to your business.

Need a COI today? Contact InsuranceBind and our team will have your certificate ready within the hour.