What are Three Important Things Included on a Certificate of Insurance

Certificates of Insurance are in essence a snapshot or summary of an insurance policy. They include the vital information needed by a third party to determine if you have the appropriate level of insurance needed to work on a specific project or contract. Five pieces of information that you will find on every Certificate of Insurance are the following:

1. Policy expiration date – this is the date that coverage outlined the insurance policy expires. This is important because you want to ensure that your partner or vendor has current insurance coverage.
2. Individuals covered – this includes the individuals who are covered under the specific policy. It might also include additional insureds like project managers and lenders.
3. The amount of coverage – this shows you the dollar amounts of coverage and the limits. If you require a certain amount of coverage for a project you want to make sure that your contractor’s and third party vendor’s Certificate of Insurance identify and contain the appropriate level of coverage.