Certificate of insurance tracking checklist
4 min read · Last updated
Tracking certificates of insurance is simple to describe and easy to let slip. This checklist covers what to collect, what to record for each certificate, where to keep it, and who reviews it on a regular schedule. General information, not legal or insurance advice; check your contracts and your insurer.
What a certificate of insurance is
A certificate of insurance, often called a COI, is a one-page summary that a vendor's insurance agent or insurer issues. It lists the policies the vendor holds, their limits and their policy periods. It is evidence that coverage was reported as in place on the date printed on it, and nothing more.
A certificate does not change the policy. Coverage is governed by the policy itself and by any endorsements attached to it. Treat the certificate as the starting point for your records, and check the policy when a contract depends on a specific term.
Coverages to collect
Most property managers and general contractors ask for the same core set of coverages. Your contracts decide which ones apply to each vendor and each job.
- General liability: covers third-party claims for bodily injury and property damage arising from the vendor's operations.
- Workers' compensation: covers the vendor's employees for work-related injury and illness. A vendor with no employees may need to provide a different statement; confirm what your contract accepts.
- Auto liability: covers vehicles the vendor uses for the work. Which vehicles are covered depends on the policy.
- Umbrella or excess liability: sits above the general liability and auto limits. Some contracts ask for it on larger jobs.
- Professional liability: relevant where the vendor gives advice or designs work, such as engineers, architects or consultants.
Fields to record for each certificate
A file that says a certificate is on record is not enough. Record the details you will need when a question comes up, so you do not have to reopen the PDF every time.
- Insurer name and policy number for each coverage
- Policy effective date and expiry date
- Coverage limits, such as the per-occurrence and aggregate amounts
- Certificate holder name, which should match your company's exact legal name
- Additional insured status, where the contract requires it
- The agent or producer who issued the certificate, for quick verification
- The date you received the certificate and the name of the person who entered it
Set coverage minimums for each requirement
Write the minimum amount next to each coverage, for example a stated per-occurrence limit for general liability. Take the amounts from the subcontract or the service agreement, not from memory, and note the contract that sets them.
When a certificate shows a limit below your minimum, record the gap and the date you asked for correction. A current certificate that is below the minimum does not meet that requirement, even though it is not expired.
Where to store certificates
Keep one current record per vendor and per coverage. Attach the certificate file and keep earlier certificates in the history, so you can show what was on file at any date. Use one location that the whole team can reach, and name files consistently: vendor name, coverage and expiry date.
A shared drive and a spreadsheet work for a handful of vendors. Once you have a few dozen vendors, the spreadsheet tends to drift: expiry dates are missed, files are saved in personal folders and nobody is sure which copy is current. VendorVault keeps expiry dates, status and documents in one place, but the discipline is the same whichever tool you use.
Who reviews and how often
Name one person who owns each vendor record and one backup. Reviewing a certificate should be written into someone's job, not left to whoever happens to notice.
Check each certificate when it arrives and before the vendor starts work. Then run a regular review of upcoming expiry dates: at least monthly for a small list, and weekly when many vendors renew in the same quarter.
Re-check the record at every renewal. A renewed policy usually comes with a new certificate, and an old certificate is not evidence of coverage after its expiry date.
The checklist
Use this list each time a new vendor is added and each time a certificate is renewed.
- Collect each coverage the contract requires before the vendor's first day on site.
- Record the insurer, policy number, policy dates, limits and certificate holder.
- Compare each limit with the minimum in the contract.
- Confirm additional insured or waiver wording where the contract requires it, and check the endorsement, not only the certificate.
- Store the file under a consistent name that includes the expiry date.
- Name the reviewer and the backup reviewer.
- Set reminders for 30, 14 and 7 days before each expiry date.
- Re-check the record at each renewal and whenever the vendor changes its insurer.
Questions
How long should I keep superseded certificates?
Keep them for as long as your contracts and your internal records policy require. Ask your attorney or insurer if you are unsure what period applies.
Is a certificate enough to confirm coverage?
It shows what the issuer reported on the date printed. It does not prove the policy is in force today or that a required endorsement exists. Check the policy for the terms that matter most to the contract.
Should I accept a photo or screenshot of a certificate?
You can accept one to start quickly, but ask for the PDF from the insurer or agent for your file. The PDF is easier to verify and to store.
Who should be the certificate holder?
Usually the company that signs the contract with the vendor. The contract states the exact name and address to use.
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