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Certificate of Insurance

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A certificate of insurance (COI) also known as an acord certificate is a one pager that provides policy details on your liability insurance coverage, verifying that you have the business insurance you claim to have. It summarizes essential information like the types and limits of coverage, the issuing insurance company, your  policy number, insurance limits,  the named insured, and the policy’s effective and expiration dates.

 


Why do I need a certificate of insurance? 


Sometimes referred to as a certificate of liability insurance or accord certificate of liability insurance, it is often required in order to win contracts. This way, your potential client can know for sure whether you have business insurance. Many companies and individuals that hire contractors need to know that they won’t be held liable for damages, injuries, or substandard work, and therefore require that you have insurance.


These certificate of insurance forms contain checkboxes and pre-printed areas that clarify important insurance details – sort of like IRS forms. When all insurance carriers and agents use the same forms, everyone benefits from reduced ambiguity and increased accuracy. This is why having an ACORD certificate of liability insurance on hand to provide to clients will help you and your clients do business more effectively.

 


How is this certificate issued? 


The certificate of insurance are governed by the Association for Cooperative Operations Research and Development, a nonprofit insurance industry organization that provides the standardized forms and certificates. The certificate of insurance is issued along with your policy and should be one of the documents your receive when you purchase insurance for your business.

 


Why is my client asking to be added to my certificate of insurance? 


Don’t be alarmed if the client also requests that they be added to your certificate as a certificate holder. This is a common request, and complying does not give them any legal rights under a certificate, because the certificate simply establishes that an insurance policy exists.

 


How quickly can I get a certificate of insurance? 


If you need a certificate of insurance to fulfill a contract requirement or would just like to have a copy on file, contact your insurer. When you purchase small business insurance from Hiscox a certificate of insurance is included in the documents you receive within 1 hour of purchasing your policy.


Who can benefit from a certificate of liability insurance? 


It’s important to know that clients aren’t the only ones who can use certificate of insurance to their advantage. These certificates, which are widely accepted in both the United States and abroad, are useful tools for small business owners, too. Take advantage of the legal security and peace of mind that a certificate of insurance can provide for you as a small business owner and your clients. Make sure you have a certificate of insurance on hand, ready for when a client asks for it.

 


What kinds of liability insurance can I buy from Hiscox? 


Liability insurance, also known as Commercial insurance protects you in the event you are sued for claims that come within the coverage of your liability insurance policy. There are three types of liability insurances and the type of insurance you choose depends on the details of your business.


General liability insurance also known as Commercial General Liability (CGL) protects your business from another person or business’s claims of bodily injury, associated medical costs and damage to property


Professional liability insurance sometimes called errors and omissions insurance (E&O insurance) is coverage for another person’s claims against businesses that provide professional and personal services.


Business Owners Policy (BOP) is a combination of general liability and business property insurance.

 


Why Choose Hiscox? 

 

  • Flexible payment options: We offer you the option of making monthly payments (with no fees) to help you manage your cash flow.
  • A certificate of insurance or accord certificate is emailed within 1 hour of purchasing your policy.
  • Tailored Insurance: Insurance custom tailored to meet your needs and save you money
  • Claims responsiveness: When a covered claim is reported, we will immediately defend you even if the claim has no basis and, if necessary, appoint an attorney.
  • Worldwide coverage: We protect you for work done by your business anywhere in the world, as long as the covered claim is filed in the United States, a US territory or Canada.

 

 

Get a fast, free quote now and get that Hiscox confidence behind your business, too. If you prefer, you can call us at 1-866-283-7545 and speak with a Hiscox licensed agent, Monday thru Friday from 8am-10pm EST.

Reviews

 


Rated 97% for service on feefo – 6,072 reviews

 



Justin, Florence
“You were awesome!”
You really helped us realize our needs and kept costs low!

Kathleen, Windsor
“Quick and friendly policy renewal”
The representative answered the phone quickly, listened to my questions and explanations, then was able to zip me through the questions.

Rachel, New York
The price is perfect for what I need. It was easy and simple to make my claim and I got my COI immediately after purchase. Great!

 

Gerald, Birmingham, Al
“Service was quick and informative”
Service was quick and informative.

 

Graham, Hendersonville
“Great, simple experience.”
Straightforward, the agent was very helpful.

Jennifer, Mill Valley
“Great company!”
It took only minutes to get insured. Quick and easy!

 

 

 

 

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Contact Hiscox the small business insurance specialists, and speak to one of our licensed agents today!

866-283-7545

Mon-Fri: 8am - 10pm EST