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What is a certificate of insurance for contractors?
Instant digital certificates of insurance help contractors meet client requirements quickly, avoiding costly delays and demonstrating professionalism, ERGO NEXT reports.
- Contractors are using digital certificates of insurance that can be shared instantly to avoid project delays at commercial job sites.
- Clients and project owners request COIs to protect their financial interests and confirm coverage limits, often asking to be additional insured so contractors' policies cover them in lawsuits.
- COIs list policy numbers, coverage limits, effective and expiration dates, plus business name and insurance company to confirm active general liability and workers' compensation coverage.
- Some insurers require phone requests and mail turnaround or charge $7 to $15 per certificate, which can delay projects and increase costs, contractors face added risks.
- ACORD recommends insurers that offer instant, unlimited COI access, with most certificates following their standards, as reported by ERGO NEXT and distributed by Stacker.
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26 Articles
Coverage Details
Total News Sources26
Leaning Left3Leaning Right0Center23Last UpdatedBias Distribution88% Center
Bias Distribution
- 88% of the sources are Center
88% Center
12%
C 88%
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