Wednesday, March 20, 2013

Certificates of Insurance

If you rent production equipment or shoot on someone’s property, there is a good chance you will be required to provide a certificate of insurance. Here are a few things to remember about certificates of insurance:

What is a certificate of insurance?
A document issued by an insurance agent/broker that is used to confirm the existence of insurance coverage. The document provides the effective date of the policy, the type of insurance coverage purchased, and the types and dollar amount of applicable liability.

Is there a cost?
A certificate of insurance does not cost anything to issue.

Can certificates of insurance change coverage?
No, certificates of insurance cannot modify insurance coverage. Certificates only provide information about policies that are in place. Certificates of insurance are designed to be informational. That is, they are not intended to confer any rights on the insurance company, policyholder, or the certificate holder.

What is usually on a certificate of insurance?
  • Name of insured
  • Company to which the certificate is issued
  • Insurance company
  • Policy dates
  • Limits
  • Type of coverage
  • Any special policy terms
  • Additional insured (with limitations) 

Additional things to remember
  • Certificates issued incorrectly don’t necessarily bind the insurer.
  • Additional insured issues must be addressed on the actual policy.
  • When you receive a certificate, do not just file it away. Read it to see whether it complies with the contract’s requirements. If it does not, then do not accept it.


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