Certificate-Holder Liability Insurance Explanation

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A certificate of insurance is a document that you can provide someone that proves you have insurance. Learn about certificate holder liability insurance and get a detailed explanation with help from an insurance professional in this free video clip.

Part of the Video Series: Insurance Information
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Video Transcript

Hi, this is David Sumpter, Commercial Insurance Specialist with Wateridge Insurance in San Diego. Today, we're going to talk about certificate holders. First of all, what is a certificate holder? So, a certificate of insurance is a document that you provide to an entity that maybe you're doing business with her or something that's required by a contract. The certificate holder will be that entity when you give them a certificate. A certificate of insurance provides access to your commercial insurance policy if you're both named in a claim. So, you don't want to give that out to readily, make sure you only give certificates of insurance to those entities who are required by contract and who you want to do business with. It's important to rely on your insurance broker to guide you through the process of making sure you're complying with each part of the contract. The certificate and the certificate holder are now joined together, you too together in the event of a claim and your insurance carrier is going to have to defend both of you. Certificate, and that brings up a good point; certificates of insurance are typically liability coverages. Again, sit down with your broker, make sure that your policy complies with the contract that you're getting into. Make sure that you have a broad enough insurance policy that you can provide these certificates of insurance to these certificate holders to get more business. Do that and I'm sure you'll win more business for your company. My name is David Sumpter, I'm a Commercial Insurance Specialist with Wateridge Insurance.


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