Truck Talk: A certificate of insurance vs. additional insured
Depending on the contract, the company or broker you are hauling for might need to be added as an additional insured or request to be a certificate holder. Truckers frequently receive one of these requests before they can haul a load or comply with a contract with a shipper. If you are new to trucking, these terms may be new to you.
Here is all the information you need for both certificate of insurance and additional insured requests.
What is a certificate of insurance (COI) request?
A certificate holder is similar to asking for proof of insurance. If you receive a request to provide a certificate of insurance, the requestor is requiring proof of your liability limits, cargo coverage, and more to verify you meet the insurance minimum for the job. In some cases, the requestor will want to ensure that a certain item is not excluded from the policy, such as frozen seafood.
How long does it take if someone asks to be a certificate holder?
Using our online client portal, you can submit a request for a certificate or send the request to certificates@crossinsuranceagency.com. We are constantly monitoring both and if we receive a request during normal business hours, we typically reply the same day.
Certificates are our priority because they are yours.
What information do you need to get a certificate of insurance?
Our online client portal makes requesting a certificate easy and cheap! Before beginning, it will be easiest if you have this information prepared:
- Your business and contact information.
- The certificate holder’s company name, address, email, and phone number.
- The type of coverage.
Once the certificate has been generated along with any other appropriate forms, it will be sent via email to the certificate holder and to our named insured.
What about additional insured for commercial trucks?
If the requestor requires to be added as an additional insured, this means that you are saying, by written contract, that you are agreeing if there is a claim then your insurance company is going to provide protection for them. Although a request to be listed as an additional insured on a commercial vehicle policy happens less frequently, it is a possibility.
What information do I need to add someone as an additional insured?
The process of requesting an additional insured is essentially the same as a request to be a certificate holder. Using our client portal, you can submit the information, and our team will take it from there. During the process, our team may need to contact you by phone for more details.
How long does this process take?
This is not everyone’s favorite answer, but it depends. There are several factors that go into submitting an additional insured request, and it will need to be processed by the insurance carrier. If you find out you will need to submit for an additional insured, it is best to contact your agent as fast as possible to expedite the process.
Will it increase my rate?
More than likely, yes. This is because the insurance company is now not only defending you in the case of a claim, but they’re also defending that party who you have listed as an additional insured.
What should I do if I receive one of these requests?
Whether you need a certificate or an additional insured, it’s all about the contract. It’s critical contracts are done correctly. If you encounter one of these requests, please send a copy of the contract so we can make sure that the insurance is following their guidelines.
We are here to support you through either scenario, and we’ll prioritize these requests so you can focus on your doing your job instead of managing your insurance.
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Trucordia represents the top-rated insurance companies in Washington. We will compare pricing and coverage options finding you the best policy for your needs. Call us at: 888-438-6708 or click the button to the right to send us a message for your quote.
