What is a Certificate of Insurance?

The Basics

A Certificate of Insurance (COI), also known as proof of insurance, is a snapshot of a policyholder’s existing insurance coverage for informational purposes only.

COIs do not change, alter, modify or extend the policyholder's actual policy. They are simply a way to show someone (usually a customer or contractor you’re working under) what insurance coverage you already have.

Certificates of Insurance are typically requested by the person or company who is hiring you to complete a job for them (the Certificate Holder). Whether they are hiring you as a vendor or a subcontractor, the COI can help build a level of trust between you and those you do business with.

COI's can also be generated for any person or company that you add to your coverage, known as an additional insured.

Policyholder

This is the person, group or company that owns an insurance policy and is typically who benefits from it. So, if you purchased the insurance policy for yourself or your business, that makes you the policyholder and the named insured.

Certificate Holder

A certificate holder is someone whom you have provided a certificate of insurance. The COI is proof that you have insurance at that point in time. A certificate holder will often request proof of your insurance and can contact your insurer to confirm that you have active coverage. 

Additional Insured

An additional insured is any person or company that you add to your insurance coverage. This is because some projects or contracts require policyholders to extend their liability coverage to other parties.

Additional insured are named on your certificate of insurance (COI) but only have access to your if you send it to them as an electronic or physical copy.

How Do I Get One?

If you work with an independent insurance agency like Smart Stop Brokers, it's as easy as submitting a request via phone or email. However, if you aren't sure who you're insurance is through, try looking through your bank and credit card statements, or even your email inbox for their contact information. Reach out to your insurer and explain the situation. If you can't find your current insurance certificate, you'll be able to get a copy of it from your insurer.

We Make It Easy

For our existing clients, requesting a Certificate of Insurance is easier than ever with Smart Stop Brokers. Simply fill out our COI form and we'll get it started right away for you. You can also reach out to us by phone if you prefer!