Certificate of insurance
A document prepared or issued by an insurer or insurance producer as evidence of property/casualty insurance coverage. It summarizes coverage but does not itself amend, extend, or replace the policy.
A certificate of insurance (COI) is proof that described coverage was in force when the certificate was issued. It is routinely used in vendor onboarding, lease administration, and construction files because it gives a counterparty a concise view of the insurer, policy dates, and listed limits.
It is not the policy. New York Insurance Law defines a certificate as evidence of property/casualty coverage, and the Department of Financial Services says a certificate may not amend or expand the terms of that policy. If a client needs additional-insured status, a waiver, or a specific payment order, verify the relevant policy endorsement rather than relying on a box or sentence on the COI.
The useful sequence is endorsement first, certificate second. See why a certificate is required for the liability-side decision.
Sources
- Primary source: New York Department of Financial Services — Certificates of insurance — Quotes New York Insurance Law's definition of a certificate as evidence of property/casualty coverage and explains limits on requested wording.
- Primary source: New York Department of Financial Services — Certificate of insurance opinion — Explains that a certificate provides evidence of insurance and may not alter the policy's terms.