Certificate of Insurance (COI)
What Is a Certificate of Insurance?
A Certificate of Insurance, or COI, is an official document outlining key information about an insurance policy. This includes coverage types, limits, additional insureds, and the policy’s effective dates.
You can use your COI to provide proof of insurance and demonstrate what types of coverage they have. Here’s an example of what a Certificate of Insurance looks like.
You may also have heard it referred to as an ACORD, or an ACORD COI.
Why Do Businesses Need a Certificate of Insurance?
Many people — clients, business partners, event organizers, etc. — will want to see proof that you have insurance before working with you.
They don’t want to read through your whole policy, though. They want to see your COI because it has all the information they need to understand what risks you’re covered for.
What’s the Difference Between a COI and an Insurance Policy?
Your policy is the legally binding document that includes the terms and exclusions of your coverage, but your COI is the summary of that document. It doesn’t include all the details — just enough for people to know what your policy covers.
Scroll right to view full chart
| Type of Document | Certificate of Insurance | Insurance Policy |
|---|---|---|
|
What It Is |
A document showing proof that you have an insurance policy. |
A document that includes detailed terms of your insurance coverage. |
How Long Does It Take to Get a COI?
As long as it takes to get your policy! With Insurance Canopy, you get an instant COI after purchasing your coverage.
Access your COI by following these steps:
- Log in to your user dashboard
- Go to “Download Documents”
- Select “Proof of Insurance” to download your COI
Who Would Ask to Be Listed on My Certificate of Insurance?
No one will ask to be listed on your COI, but event organizers, business partners, and clients may ask you to add them to your policy as additional insureds. Doing this extends your coverage to them.
The people who ask for a copy of your COI are considered certificate holders. Your coverage doesn’t extend to them, though.
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