What is Certificate of Insurance (COI)?
Insurance glossary entry on BeCovered.ai for the term "Certificate of Insurance (COI)": Summary document evidencing coverage—it is informational, not a guarantee of coverage to certificate holders. Scope: plain-language meaning for coverage discussions; confirm definitions on your policy forms.
Summary document evidencing coverage—it is informational, not a guarantee of coverage to certificate holders.
Understanding Certificate of Insurance (COI)
ACORD-style COIs are widely used in contracts. Misreading them causes disputes—verify additional insured endorsements actually exist, not just checkboxes.
Examples
- General contractor requires subcontractor COI naming GC as additional insured.
- Landlord requires tenant business COI for lease commencement.
Common Questions About Certificate of Insurance (COI)
Does COI amend the policy?
No—only endorsements and the policy contract bind; COI can be inaccurate if not updated.
Can I rely on COI limits shown?
Cross-check with declarations page and endorsements; aggregate limits may be depleted by other claims.
Related Insurance Types
Related Terms
Endorsement
An add-on or modification to your insurance policy that changes or expands your coverage.
Liability
Legal responsibility for causing harm or damage to another person or their property.
Premium
The amount you pay to your insurance company for your coverage, typically monthly or annually.
Claim
A formal request to your insurance company for payment or coverage for a loss or policy event.