Certificate Of Insurance Guide
What is a certificate of insurance and why do you need it?
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A COI or a Certificate of Insurance is documented proof that the moving company you hire has liability and loss coverage. This means that if any accidents, injuries or damages occur during your move, then you, the building and your moving company are insured. And it gives the property owners peace of mind when guys are moving lots of boxes and large pieces of furniture around their buildings and elevators. If anyone or anything gets hurt or damaged, they’re covered.
At Roadway, we know moving day can be super stressful. It gets even more stressful when phrases like COI are thrown at you. We believe moving day should be a positive stress-free experience so we’ll keep you informed about what to expect on the big day. Like what a COI is, why you need it and how to obtain one. This page will give you all you need to know to make you a COI expert!
What is a Certificate of Insurance?
The COI protects building and property owners from any damages, accidents or injuries that occur during a move. You likely won’t be able to move without it! The Certificate of Insurance provides several different types of coverage. Here’s an overview:
- COIs usually provide coverage for property damage and workers compensation in case of accident or injury.
- Most COIs cover approximately $1-2 million per move. Remember to check with your building and find out what amount of coverage they require and make sure your mover has coverage in that amount or more.
- Some buildings require much higher coverage, depending on the kind of building you’re moving into. For example, commercial buildings often require more coverage than a small residential property.
At Roadway Moving, our COIs cover $10 million to ensure that your move is as stress-free as possible.
What information does a COI contain?
Your COI will include the information your property owner needs to know that they’re covered in the event or any damages or accidents including:
• The address of the property in which the move is taking place and the name of the person authorized by the building to oversee the move.
• Confirmation that the movers are insured to move from that specific building.
• Amount of coverage provided.
• Overview of the current condition of the property.
How do I obtain a COI?
It’s easy to get a COI — you probably won’t have to do much more than make a call or send an email. Just ask for COI samples or templates from the managers of the building you’re moving out of and the building you’re moving into. They should have all you need…remember, you’re not the first person moving in or out of their building!
At Roadway Moving, our COIs are issued from our insurance company, and we provide them to our clients when they’re needed. Our teams will have an actual copy of the COI with them on moving day. If your building manager or doorman asks to see your COI, no problem — your Roadway team will be ready with COI in hand.
The Roadway COI Process
Step 1: Contact your building management team at both move out and move in locations to determine if a COI is required. If so, obtain a sample COI from each building. It is important to work with both buildings management to determine the specific language they require.
Step 2: Email your COI details and samples to [email protected] and reference your job # in the subject line.
Step 3: Roadways COI support team will review your request to ensure all building requirements are satisfied, including proper formatting of the COI and insurance coverage limits.
Step 4: Once finalized, our team will turn around the COI within 24 hours from the request and will email a final COI directly to your building management with a copy to you for your records.
Step 5: Our team will provide continued support throughout your move process should building management require any changes to your insurance coverage.
NOTE: Our COI comes with the move package and Roadway does not charge for COI, keep in mind that some NYC buildings ask for additional endorsements that are not on a normal COI template. In this case, movers will charge between $250-$1,000. Roadway will always cap endorsements at $250.
What happens if there’s damage on moving day?
With all those boxes and couches and tables being moved, accidents do happen on moving day. A wall or floor might get scratched. A Peleton bike could land on someone’s foot. You never know. That’s what the COI is for.
If there are any damage or accidents, you or the property manager should contact your moving company as soon as possible. Your moving company will submit a claim or pay for the damage themselves. At Roadway Moving, we take care of everything so you don’t have to stress anything. We have you covered. Literally.
Can I move without a COI?
Ask your building manager if they require a COI before you move anything! You don’t want to be held responsible for any damage or accidents. And even if they don’t require a COI, it’s a good idea to get one. It covers you from any financial risk during your move. And it’s the right thing to do.
• Ask your current building manager about the property’s COI requirements.
• Your move-in paperwork might reference COI requirements and it might include a COI template.
• Ask your moving company! They should have all you need. At Roadway, we take care of all of your COI requirements and paperwork so you have one less thing to worry about!
Are there COI red flags to watch out for?
Before you can become a COI expert, there are a few things you need to look out for:
• Your moving company shouldn’t charge a fee for a COI. Insurance companies don’t charge moving companies for a COI, so your mover shouldn’t charge you.
• Get a copy of your COI. A paper copy and an email copy if possible. Have it on hand in case your building manager says they don’t receive their COI when it’s time to move.
• Remember to make sure your COI coverage is enough to cover your building’s minimum requirements.