Certificate of Insurance Forms
When you need to show proof of insurance, Montgomery & Associates has you covered. When you are a contractor or construction company bidding on a new job, you may be asked to show a certificate of insurance (COI) along with certain ranges and limits of coverage.
What is a Certificate of Insurance?
COIs are often referred to as certificates of liability insurance. It is documentation provided by your insurance company and contains all the details a potential contracting organization would need, such as insurance company name, coverage limits, policy numbers and dates of expiration.
The government, educational institutions, and large corporations want to do business with vendors who are properly insured against property damage and liability for workplace accidents and injuries. These entities often provide a blank form for the insurance agent to complete.
Examples of insurance documents needed include
Workers’ Compensation Plans
Who Requires Certificates of Insurance
1)Small businesses bidding on government-contracted jobs
2)Construction contractors bidding on jobs with the government or larger corporations
3)Companies performing data
Our agency offers instant access online to your certificates of insurance. We know you often need this information quickly and sometimes it can be the one factor that delays a bid submission. We offer this documentation online and are always available to answer questions.
In the event you need to raise your limits, call an agent at Montgomery and Associates Insurance and Financial Services to get it handled right away. In many cases, raising limits of coverage results in a small premium change.
Sample Certificate of Insurance Requirements
Our agency has included a sample of the requirements from a higher education facility to contract with vendors who are properly insured. The example is from an industry considered higher risk (building construction).