What is a document that provides evidence of insurance coverage called?

A Certificate of Insurance is a crucial document that serves as proof of insurance coverage. It is typically issued by an insurance company or broker and summarizes the specific coverages provided under an insurance policy. This document is often requested by third parties, such as clients or contract holders, to verify that an insured party has active insurance coverage, outlining key details such as policy dates, coverage limits, and types of insurance.

The importance of a Certificate of Insurance lies in its role in risk management and assurance, helping to mitigate concerns about liability or financial loss. It is generally a straightforward, easy-to-read document that communicates essential information to stakeholders who need verification of coverage without delving into the complexities of the full insurance policy.

In contrast, the other options — Insurance Policy, Coverage Summary, and Insurance Declaration — while related to insurance documentation, serve different functions. An Insurance Policy is the comprehensive legal contract between the insurer and the insured that details the rights and obligations of both parties. A Coverage Summary is usually a high-level overview of the coverages in a policy but does not serve as proof of insurance in itself. An Insurance Declaration page provides specific information about the policy itself, similar to a policy but less formal than a Certificate of Insurance. Each of these documents has