Certificate of Insurance for Moving

Moving in New York City usually requires one or more Certificates of Insurance (COIs). Without a valid certificate of insurance, your mover likely won’t be allowed to enter the premises on moving day. But what is a Certificate of Insurance? And do you need one for moving? 

Requesting COIs used to be more typical of large, luxury buildings. Over the last few years, it’s become more common for smaller buildings and brownstones to ask for a certificate. Below, we explain what a Certificate of Insurance includes and why it is vital that your mover provides one when requested. Cool Hand Movers never charges clients for these essential, custom documents.

What is a Certificate of Insurance (COI)?

Moving COIs do two things. They condense information about multiple insurance policies to one or two pages. They also protect the named parties from liability should a claim arise from the move. The most common format for COIs is an Acord form. The form has designated areas for key information that describes your mover’s insurance policies. The policy terms dictate how they would apply in the event of a claim.

What does a Certificate of Insurance for moving include?

COIs condense a lot of insurance policy information into a short document that the requester can quickly review. Any licensed mover in New York State must carry multiple forms of insurance, including workers’ compensation, automobile, and general liability policies. If your building owner requires a COI, get a PDF sample. The sample lays out the exact requirements and details that each location wants to include: 

• Insurance company and policy name.

• Policyholder’s name and contact information. In this case, the policyholder should be your moving company.

• Certificate holder’s name and address. For moving services, the certificate holder may be the tenant, the building owner, or the building management company.

• Additional Insureds. These may include managers, business partners, and tenants covered under the policy while service is in progress. 

• Policy limits -  The State of New York Department of Transportation sets minimum coverage requirements for liability and property damage insurance. Many NYC buildings require moving companies to have insurance coverage beyond the required state minimums. Cool Hand Movers’ general liability insurance limit is up to $5,000,000. That is the max requested by most of the city’s residential and office buildings.

• Policy expiration dates - Your service date should fall within the active period of the policies on the certificate.

Occasionally, the party requesting a certificate also requires additional endorsements. Sometimes, those other endorsements require movers to purchase additional coverage that applies only to that specific move. An experienced moving company will work with you and your property manager to reduce the costs to potential clients.

Why does a Certificate of Insurance matter?

Moving is hard work–even dangerous when not done correctly. The moving process can occasionally mean property damage or even injury. A valid certificate indicates that a moving company would be able to cover the cost of a liability claim if one arises. Moving companies operating without insurance aren’t protecting themselves, their clients, or their employees.

Certificate Holder vs. Additional Insured

While the Certificate Holder on insurance documents may also appear under additional insured, they are not the same thing. The Certificate Holder is the main issuant and the entity requesting the Certificate of Insurance. Affiliated companies, like those that help manage or operate the property, will also appear as additional insured. If not listed under Certificate Holder, the Additional Insured section will also include the apartment address.

Key Takeaways: COIs for Moving

1. Certificates of Insurance protect tenants and property managers from liability in the case of injury or property damage claim.

2. Hire licensed, insured movers, so your move has the proper liability coverage. Licensed movers must regularly report their insurance status to the state.

3. New York State requires moving companies to be licensed and carry multiple forms of insurance. Those policies include general liability, automobile, and workers’ compensation insurance.

4. Very low rates for moving may signal that a moving company is unlicensed and uninsured.

5. Certificates of insurance aren’t just for moving services. Single-location services like real estate staging help, loading, and moving within the same building.