Certificate of Insurance

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Definition - What does Certificate of Insurance mean?

A certificate of insurance is a document provided by an insurance company, agent, or broker to prove the existence of an insurance contract between the insurer and the insured. It includes such information as the name of the insurer and insured, the effective date of the policy, and the type of coverage. It can be used as a documentary evidence of the insurance contract, but it should not be regarded as the contract itself.

A certificate or insurance is also known as proof of insurance.

Insuranceopedia explains Certificate of Insurance

A certificate of insurance is evidence that verifies the existence of an insurance coverage. It should also provide the policy number and coverage amount. Sometimes, it may list the perils or risks insured against. While the certificate offers all these information, it cannot act as the contract itself. A certificate of insurance may be issued anytime by the insurer upon the request of the insured or a third party. However, it is most often helpful during situations involving big losses.


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