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Glossary

Certificate of insurance (COI)

A certificate of insurance is a one-page document that proves an insurance policy is in force, listing the named insured, coverage types, limits, effective dates, carrier, and any additional insureds. Homeowners, HOAs, lenders, and city permit offices routinely require one from property managers.

By Andrew Bate, Co-founderReviewed by Stuart BateUpdated

Why this matters for property managers

Cities such as Chicago, Nashville, New Orleans, Denver, and Palm Springs tie short-term rental permits to proof of liability insurance, usually $500,000–$1,000,000 per occurrence. Add owner contracts and HOA approvals and a mid-size manager may need dozens of certificates a year. Generating them on demand, with the right additional insureds, is an operations issue as much as an insurance one.

Related terms

Additional insured
An additional insured is a person or company added to a policy who receives some of the policyholder's coverage benefits. Property managers commonly add homeowners, HOAs, and municipalities as additional insureds on their liability policy.
Named insured
The named insured is the person or company listed on a policy as the primary policyholder, with full rights to file claims, add endorsements, and cancel coverage.
Declarations page
The declarations page is the first page of an insurance policy. It lists the named insured, policy number, coverage limits, deductibles, premium, and policy period — the summary that answers 'what does this policy cover, and for whom?'
Liability Control
Liability Control is Velaris's liability program for managed properties. Every home in a manager's portfolio is enrolled in liability coverage at onboarding, with limits from $100K to $1M per occurrence and an opt-out for owners who show equivalent coverage.

Browse every term in the insurance glossary for property managers.

Certificate of insurance (COI): common questions

How fast can I get a COI?

With a traditional broker, typically days. With Velaris, certificates are generated from the dashboard immediately, with additional insureds and endorsements applied at the same time.

Does a COI change my coverage?

No. A COI is evidence of coverage, not a contract. Only endorsements to the policy change what is covered.

Related guides

Certificates of insurance
Read the full Velaris guide.
Short-term rental regulations by state
Read the full Velaris guide.

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