Sample Certificate Of Liability Insurance Additional Insured

Waren Burn

2 min read

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24-11-2024

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A Certificate of Liability Insurance (COI) is not an insurance policy itself. Instead, it's proof that a policy exists. It serves as verification that a specific individual or entity (the "additional insured") is covered under the liability insurance policy of another party (the "named insured"). This is crucial for contractual agreements and risk mitigation. Let's examine what a sample COI for an additional insured might look like, and the key elements to look for.

Key Components of a Sample COI for an Additional Insured

A comprehensive COI will typically include the following information:

• Issuing Insurance Company: The name and contact information of the insurance company providing the coverage. This allows for verification of the policy's validity.

• Named Insured: This is the party who purchased the insurance policy. They are the primary policyholder.

• Additional Insured: This section explicitly names the individual or entity (you) who is added to the policy for liability protection. This should match your legal name and address precisely.

• Policy Number and Effective Dates: The policy number enables verification of the policy with the insurance company. The effective and expiration dates define the period of coverage.

• Type of Insurance: This specifies the type of liability insurance covered, such as Commercial General Liability (CGL), Auto Liability, or others, depending on the context.

• Coverage Limits: This indicates the maximum amount the insurance company will pay for covered claims. Pay close attention to the limits of liability, as these directly affect the level of protection offered.

• Description of Operations: A brief description of the named insured's operations, specifying how your relationship relates to their business operations and the potential for liability.

• Additional Information: Some COIs might include clauses related to primary and non-contributory insurance. These clauses define how insurance coverage is applied when multiple insurance policies are involved in a claim.

What to Look For in a COI

When reviewing a COI, it's essential to:

• Verify Accuracy: Ensure all information is accurate and consistent with what you expect. Incorrect information can invalidate the coverage.

• Sufficient Coverage: Check that the coverage limits are adequate for the potential liabilities involved in your relationship with the named insured.

• Policy Endorsements: While not always explicitly stated on the COI, confirm that necessary endorsements have been added to the underlying insurance policy to specifically include you as an additional insured.

• Expiration Date: Be mindful of the expiration date and request updated COIs well in advance of renewal.

Disclaimer

This information is for illustrative purposes only and does not constitute legal or insurance advice. Always consult with an insurance professional or legal counsel for guidance on specific situations and policy interpretations. The specifics of a COI can vary depending on the insurance company and the nature of the agreement. A properly completed and accurate COI is a critical component of protecting your interests.