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What Is a Certificate of Liability Insurance Form?

November 21, 2019

There is a lot involved when making the decision to purchase insurance for your business.

Making sure that your policy covers all of your business needs as well as noting any current insurance trends when making your decision is a time-consuming task. When you finally make the purchase, you’ll want to ensure that everything you’re covered for is set out for you in writing. The certificate of liability insurance form ensures that this is the case, as it should accompany any purchase of insurance for your business.

Certificate of liability insurance form: the basics

Any business that purchases insurance does so because it is looking to traverse a field of risks and potential backbreaking costs with the backup it needs. Thus, a certificate of liability insurance form is important in making sure that a business that purchases insurance has everything it needs in the package.

What it has

A certificate of liability insurance form contains the essential items of the insurance agreement. In the top left corner of the form, the certificate lists the provider and the name of the insured company.

The certificate then displays the benefits and agreements of the insurance policy agreed upon by the insured company and the insurer. This listing of benefits acts as a summary of what the policy entails and what limits it has. This summary typically contains policy numbers, types of policies, limits, dates of when the policies are effective, when they expire, and some of the finer details of coverage. With this summary, you’ll be able to see all of the essential elements of your insurance plan listed on a single page.

Why it’s needed

The certificate is needed to guarantee in writing that certain liabilities will be covered by an insurance company from an agreement. Also, when hiring contractors or other workers to help on certain projects, they’ll want to be sure that they won’t be held accountable for any injuries or other liabilities that occur. Having a certificate of liability insurance can assure them that this won’t be the case.

Overall, it’s always best to have your insurance agreement set in writing in case there are ever any discrepancies in how something is to be paid for or settled. Having a certificate of liability insurance is a good idea for any size business to have when they purchase insurance.

How to get one

You should receive a certificate of liability when you purchase insurance. If you do not receive one, you can ask the insurance provider to make sure that you do. You can also go through third party insurance brokers to make sure that you receive one. Generally, the certificate should be provided upon your agreement with the insurer. Also, feel free to submit a request through insurance agency management software to make sure that you receive the certificate if you have not been sent it in a timely manner.

See the Highest-Rated Insurance Agency Management Software, Free →

Being insured

When dealing with insurance for your business, you’ll want every part of your agreement on file and easily accessible. The certificate of liability insurance makes sure that this is the case for both your business and the insurance company you use.

What Is a Certificate of Liability Insurance Form? Read all about a certificate of liability insurance form and how it's essential in any insurance agreement for your business.
Rob Browne Rob is a former content associate at G2. Originally from New Jersey, he previously worked at an NYC-based business travel startup. (he/him/his)

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