When should you request a COI?
Asked by: Maritza Moen | Last update: December 28, 2025Score: 4.6/5 (22 votes)
How do I know if I need a coi?
Simply put, if you are hiring an independent contractor or business for their services on your property, you should require a certificate of insurance (COI).
How to request a coi from a vendor?
To request a COI insurance for vendor insurance verification, you'll need to send a formal COI request form, which acts as an official ask for a service provider to work with their insurer to produce the relevant COI document to return to you.
Who requires a certificate of insurance?
Depending on your role in relation to other businesses you work with, you may need a certificate of insurance. If you are a subcontractor, vendor, or any business performing services on another business' behalf, you will need to provide a COI.
Why do vendors need a certificate of insurance?
Your business uses these to ensure that the insurance requirements in a contract are met; that the vendors are carrying protections that move any risk they generate off of your risk blotter and onto theirs.
How to Show You Have Insurance With a COI
When should I ask for a certificate of insurance?
Always request a COI from a contractor before they commence work on your project. The COI should be obtained before entering into business with the new third party. Simply ask them to provide a copy from their insurance carrier, who should supply it for free.
What does COI mean for vendors?
A Certificate of Insurance (COI) outlines how much coverage a potential third-party vendor's policy provides up to a specific dollar amount, along with the types of incidents that are covered, the effective date, and the expiration date.
Can I issue my own certificate of insurance?
Insureds don't have the authority to issue their own certificates. The agent, under contract with the carrier, issues a COI on behalf of the insurer.
What is the difference between a COI and a declaration page?
An insurance declaration page (or “dec page”) is the first page of an insurance policy given to the named insured, while a Certificate of Insurance (COI) verifies to third parties that an insurance policy is already in effect.
How long is a certificate of insurance valid?
The certificate of insurance is valid for as long as your policy is active. Once your policy expires, your certificate can only be used to prove that you had insurance coverage at a given period, but it doesn't help with future projects.
Is it easy to get a COI?
While the process is fairly easy to understand, it must be noted that actually obtaining the certificate of insurance from your broker could take a few days or even weeks, depending on how easy it is to get a hold of your broker and how quickly he or she is able to complete all the necessary paperwork and provide you ...
Who gets the COI?
A certificate holder is the business or person who receives the COI from the policy holder. The insured — or their insurance company — will provide the COI to the certificate holder as a way to prove they have sufficient insurance coverage for the job.
How long does it take to get an insurance certificate?
If the policy fits the requirements, it should take less than a day, however if the policies do not match then this process can take up to 3-4 days until you receive the new certificate. At times this can take longer if there is a lot of back and forth between you, your insurance agent and the client.
Does COI cost money?
A certificate of insurance is free. Much like a receipt, the document is proof that the policyholder paid for the policy and has insurance. The cost of the policy depends on the type of insurance, your policy limits, and business factors, such as revenue and number of employees.
How long does a COI take?
A certificate of insurance(COI) or proof of liability coverage can be issued once the binder is received from the insurance carrier. The binder usually takes about 12 to 24 hours. The binder will show the liability policy effective dates, policy limits, insurance carrier information and policy number.
Do you need a COI for a subcontractor?
A certificate of insurance (COI) is a must-have document that proves you have insurance as a contractor. COIs are usually a requirement on every construction project. If you're hiring subcontractors, you should always require them to submit their own COI so you're protected against liability.
Who signs a coi?
Response 2: The authorized signature is from the person authorized to issue the certificate, not necessarily the agent of record. Authorization comes from the insurer since the agent is issuing on the insurer's behalf.
Why is a coi important?
At its core, the purpose of a COI is to provide documented evidence that a vendor has insurance coverage in place. COIs allow you to verify your vendors' type of coverage, policy limits, and effective dates, ensuring their compliance with your requirements and contractual obligations. They help mitigate your liability.
Who can issue a certificate of insurance?
Only the insurance agent or broker providing someone with a policy can confirm its existence and issue a corresponding certificate proving it. However, while an insured cannot issue their own certificate of insurance, obtaining a COI from their insurer is typically a quick, simple, and free process.
Why would a customer ask for a coi?
Your customer wants to ensure you have proper insurance coverage to protect against certain financial risks associated with the work. The certificate of insurance states the policy or policies you carry so your customer can see if you have sufficient coverage. If you don't, they may request that you get it.
How do I get my coi?
Obtaining a COI from a third party should not be too difficult a task on your end, as they'll be the ones taking the steps above. To ask for a COI, you can generally send the party you're wanting to work with a certificate of insurance request letter or email or even ask them in person if you'd like.
Can I make my own coi?
In many cases, you must present a COI if you want to work. As such, you only have the power to obtain a COI from your agent or broker and submit it. You are not authorized to create or certify one. You can't even sign it.
When to ask for a coi?
When you hire contractors or subcontractors to perform work on your property or for your business, requesting a COI from them is essential. This ensures they carry their own liability and workers' compensation insurance, protecting you from being held liable for injuries or damages resulting from their work.
Why request a certificate of insurance?
1 Proof of Coverage
When potential clients or business partners request a certificate of insurance they want assurance that you have the necessary insurance in place. By providing a certificate of insurance, you instill confidence and demonstrate that you are a reliable and responsible professional.
What are coi requirements?
✓ The company name provided on the application must exactly match the insured name on the COI. Be sure to include any Inc, LLC, etc. ✓ Minimum of $1,000,000 general liability is required. ✓ Minimum of $300,000 damage to rented premises is required.