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What is a COI Form 25?

COI Form 25 is a type of liability insurance certificate that represents contractual agreements between the insured clients and the insurance firms. The COI 25 form is a document that provides details on the type of insurance a client has paid for as well as the amount of money that is under the insurance policy chosen by the insurance company customer. The COI 25 form also provides the information of all the parties that are listed on the insurance policy. The COI 25 form essentially includes a summary of the information about the insurance coverage and serves as proof of an agreement between an individual (commonly listed as the Named Insured), many people (which can be shown as Additional Insureds), or a company, and an insurance firm.

Importance of the COI 25 Form

The COI 25 form, more commonly known as a certificate of insurance, is a significant document to the parties listed as the stakeholders range from the customers to the insurance company itself. The COI 25 form (COI) is vital because it is a legally binding document between the insurance company and its clients, making it a critical record in settling disputes that are related to insurance coverage. The certificate of liability provides for validity in proving coverage is effective for a specified date range making it valuable and beneficial to the companies requesting coverage.

COI Form 25 Example

ACORD Liability Notice of Occurence 12.02.16 1 ACORD Liability Notice of Occurence 12.02.16 2 ACORD Liability Notice of Occurence 12.02.16 3 ACORD Liability Notice of Occurence 12.02.16 4

Source: ACORD

Link: ACORD-Liability-Notice-of-Occurence-12.02.16

Description: The form shows information about the insurance coverages which essentially lists the values the insurance company is legally held responsible for on those specified items or property that are insured by the policy. The value represents how much the beneficiaries of the coverage are entitled to in case the conditions stipulated by the insurance coverage are not met. The insurance coverage displayed in this COI 25 also demonstrates the type of insurance, the company the insured is covered by, as well as the unique identifier that is known as the policy number.

How to Read a COI Form 25

Reading a certificate is easy when given the correct information.  The date in which the certificate is generated typically appears in the top right-hand corner, making it clearly visible when the certificate was completed. The producer, or rather the certificate writers, and the insured details are the next important aspects documented on the form.  This gives you information on who is covered and by whom.  The most crucial pieces of information listed on an COI 25, are the coverages reflected.  There are three (3) types of coverages that are listed on the form itself: General Liability, Automobile Liability, and Excess/Umbrella Liability.  While these three (3) are typically standard, there are dozens of other coverages available that can also be listed on an COI 25.  These outline the types of coverages the insured has along with how much money they are insured for under each coverage.  Lastly, the Certificate Holder provides information as to whom is additionally covered by this insurance, typically shown as an “Additional Insured” in an insurance coverage declaration.

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