COI (certificate of insurance)

If an uninsured contractor damages the house or someone is hurt on the job, the claim may land on you. A COI is the quick way to confirm coverage exists before anyone starts work.

What to check

• The insured name matches the contractor you hired.
• The policy types, such as general liability and workers' compensation where required.
• The policy limits meet what you, your lender or your insurer require.
• The effective and expiry dates cover the whole job.
• Whether you are listed as certificate holder or additional insured, if you asked for that.

How Run The Deal helps

In contractor management, you add each contractor's COI expiry date and upload the COI. Badges warn you about No COI, COI expired and COI soon. You can also keep each contractor's W-9 on file.

Common mistakes

• Accepting a COI and never checking the dates again.
• Taking a certificate from the contractor without confirming it with the agent when something looks off.
• Forgetting subs. Each trade on site should have its own coverage.

Pair COIs with lien waivers on every payment. Ask your insurance agent what coverage your policy and lender require.