A companion piece to your small business insurance policy, a certificate of insurance is a business tool.
You’ve landed a new client and are excited to get started on the project. But before you can begin, your client needs a copy of your certificate of insurance. Do you have it? Do you even know what it is?
If not, don’t worry! It’s a simple document issued by your insurance company that verifies that you have insurance coverage, what that coverage is, who it covers, the effective date of the policy, and the types and dollar amount of limits and deductibles.
A certificate of insurance – also known as proof of insurance – is requested when liability and large losses are a concern. For example, if you’re providing software programming services for a client, they may require a certificate of insurance to prove that certain liabilities will be covered during the course of the project.
Even if you haven’t been asked to show a certificate of insurance, it’s an added benefit of having proof of your small business coverage. Most insurance providers include the certificate in your initial insurance documents; if not they are required to provide one upon your request.
Don’t want until you’re asked to provide your certificate of insurance to get the small business insurance coverage you need. Contact us now to establish an insurance policy that’s right for your line of work. Then when your next client asks for it, you’ll be ready.