Certificate of insurance request form template
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9th of May, 2019 Virginia Hamill is the author of this piece. 9th of May, 2019 Virginia has a lot of experience writing about insurance and finance for various websites. She applies her knowledge of business insurance and life insurance to Fit Small Business’s content.
This is the first in a series on General Liability Insurance.
A certificate of insurance (COI), also known as a certificate of liability insurance, is a one-page document that summarizes your insurance coverage and serves as evidence of coverage. The form contains policy details such as coverage limits and effective dates, making it easy for business owners to locate and share them without disclosing other, more sensitive information.
Those who need immediate liability coverage and certificates of insurance should contact Hiscox. Hiscox knows the importance of receiving proof of insurance as soon as coverage is established, so they email certificates within an hour of binding and never charge for the service.
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As a business owner, you’re probably aware of the risks that your company may face, as well as the need for insurance coverage to protect you from those risks. Before hiring you to complete a job, your clients may request evidence of your insurance coverage. A certificate of insurance is a document that allows you to quickly access the details of your company’s insurance policy.
When bidding on a project, most government contracts require employees to provide proof of insurance. A prospective customer may also ask for evidence of insurance at any point during the correspondence. While a certificate of insurance isn’t needed by every client, it does have a number of advantages for your business. A COI demonstrates to your clients that you are a trustworthy company that anticipates risks. It also gives you easy access to your policy’s details when you need them. If you’re bidding on a contract, your COI may be able to provide you with immediate insurance evidence, putting you ahead of the competition. Your company’s liability may be reduced as a result of the chain of documentation offered by your COI.
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Fill out the form below and click the “Send Now” button to request a certificate of insurance. Call 1-888-661-3938 Option #3 Monday through Friday between 8 a.m. and 8 p.m. Eastern Standard Time to speak with a Business Insurance Representative about rush requests.
The policy number can be found next to the words “Policy No.” in the top right corner of your policy statements page. Please enter the number exactly as it appears on your insurance policy. The following is an example of a policy number: I-680-317W847-5-COF-98 I-680-317W847-5-COF-98 I-680-317W8
Please enter your company’s name exactly as it appears on your policy declarations page. The name can be found in the Named Insured and Mailing Address section of the statements page, in the upper left corner.
Some certificates are given out once for a specific event or project, while others are given out annually if the certificate holder has a continuing interest (i.e. A company that provides financing for equipment you lease).
The party to whom money or insurance proceeds are to be paid in the event of a property’s loss, such as a building’s lienholder (typically a bank). The property has to be a physical structure or location.
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COIs (certificates of insurance) are documents that contain all of the important details of an insurance policy in a standardized, easy-to-understand format. COI is designed to demonstrate the status of a policy, provide easy access to coverage details, minimize risk, and protect against third-party liability.
Liability issues must be addressed for both large and small projects, lest project owners, managers, and lenders remain vulnerable to insufficient loss transfer and suffer reputational damage each time they are found to be liable for an accident or supervision. Large-scale projects, such as hotel construction, have a slew of third parties to keep track of, including investors, general contractors, subcontractors, and even passers-by.
For all parties involved in a project, some form of insurance should be in place, but reviewing every letter of each policy would be a full-time job in and of itself, leaving plenty of room for important details to be overlooked.