What is a certificate of insurance?
A certificate of insurance (COI), sometimes called a business insurance certificate, is a document that shows proof of your business insurance and specific details about your policy.
It allows people that you do business with to see that your business, and sometimes, their own business interests, could be covered for liability, accidents, injuries, property damage, fire, theft, vandalism, storm damage or other calamities that could be costly for — or in extreme cases, shut down — business operations.
Why do I need a certificate of insurance?
Certificates of insurance are often required and requested by clients, landlords, business partners and others to show the details of your small business insurance. They may want to see the details of your liability insurance coverage before you can:
- Get a professional license or register your business
- Sign a commercial lease for your shop, store, office, warehouse of other business location
- Bid on a job
- Satisfy contract requirements to land a job
A COI can also be a good idea to help your business:
- Grow new business partnerships
- Build trust with clients and prospects
Example of a certificate of insurance: What’s included
Business insurance certificates typically includes information about your insurance policy and coverage at a glance, including:
- The certificate holder’s name, policy number and company name
- The insurance company’s name and contact information
- The type of insurance policies you have, such as general liability insurance or workers’ compensation insurance
- Your insurance coverage start date and policy expiration date
- The amount of coverage you have, including your deductible and policy coverage limits
- Additional named insureds and additional insureds
- Special conditions and description of operations language (if required), including:
- A waiver of subrogation
- Primary and noncontributory
- Ongoing operations (Form CG2010)
- Completed operations (Form CG2037)
- Job/service location
- Job/service you provide
- Coverage follower
Most insurance COIs are from a company called ACORD. That’s why insurance certificates are sometimes referred to as an ACORD certificate of insurance or liability.
How much do certificates of insurance cost?
ERGO NEXT Insurance policyholders get unlimited access to customized COIs 24/7 at no additional cost. Just log in to your account or our mobile app to create and share as many custom COIs for business as you’d like in minutes.
Can I add an additional insured to my COI?
Yes. Just log into your ERGO NEXT account or our mobile app to add an additional insured to your COI.*** Quickly and easily share your updated certification of insurance with clients, landlords or business partners from your desktop or phone.
When someone is an additional insured on your policy, they’re also able to make a claim on your business insurance policy if a covered event occurs while you’re working for them.
How to get a certificate of insurance fast
If you’re an ERGO NEXT customer, log in to your account via web or mobile app. (And if you’re not, start a free business insurance quote.)
Follow simple instructions to create your insurance liability certificate manually, or upload a sample and we’ll customize the details for you.
Share unlimited proof of insurance COIs for business with anyone in minutes. Email, download, print or share a link.
4 reasons to get a certificate of insurance with ERGO NEXT
A COI with some insurance companies means calling an agent, high costs, then waiting weeks for delivery.
In minutes online or on the app, ERGO NEXT lets you create, share and modify as many COIs as you need yourself.
ERGO NEXT has:
1. Unlimited COIs at no additional cost
How many insurance certificates do you need? The cost for all of them is included with your monthly premium for any type of coverage you have for your business, such as general liability insurance, commercial property insurance, BOP insurance (Business Owner’s Policy), or workers’ compensation.
2. Complete self-service after hours
Don’t wait for Monday morning. Make as many COIs as you need on your own, 24/7.
Create custom COIs on your own and on your schedule, including additional insureds and special languages.
3. Live certificates of insurance
When you share a digital COI with a client or prospect, they can make change requests that notify you automatically. You’re in control to approve or deny their requests.
If you approve their changes, an updated COI is created and sent. If you deny their request, they’re notified that the change request was not approved.
4. COI analyzer technology
NEXT’s proprietary, custom-built COI analyzer can create a certificate of liability insurance based on a sample certificate in minutes. Just upload a sample certificate, and we’ll use it to generate a custom COI fast.
***Your policy document governs whether a party is an additional insured. Please check your policy for specific requirements.