Certificates of Insurance (COI) are certificates that are issued by the movers insurance company. They are required by most buildings in the New York / Tri-State area as evidence of the insurance coverage held by the moving company. The insurance coverage detailed on these certificates usually includes the following:
- Liability Insurance.
- Cargo Insurance.
- Automotive Liability Insurance.
- Workers Compensation Insurance.
- Umbrella Coverage.
The average amount of insurance coverage required by most buildings is $2,000,000 per occurrence and any decent moving company will be covered accordingly. Some buildings require $5.000,000 and even up to $10,000,000 per occurrence but these are normally commercial buildings and that kind of coverage is usually aimed at construction companies or, any company that will be performing destructive work within the building. Some New York City movers only carry up to $1,000,000 of coverage and this should raise a red flag as, if they do not have the industry standard $2,000,000 of coverage then your building management will refuse to let the move proceed and you will have wasted your valuable time on a sub standard moving company who will probably have provided a sub standard service.
What to look out for.
If a New York City moving company attempts to impose a fee for the issuance of a certificate of Insurance they are usually the type of company to avoid. Almost every insurance company in New York State offers the mover “Blanket Coverage” which waives the fee for the issuance of each certificate of insurance required thus eliminating the need to pass the cost on to the client. A New York State moving company can only charge for items listed on its Tariff and the COI is normally not included on a moving company Tariff.
Make sure you request a copy of the COI be emailed to you as, they have a habit of getting lost in the shuffle and then on move day your buildings Management claim to have never received the COI. If you have a hard copy you can produce it as evidence of receipt therefore avoiding the stress, worry and any delays on move day.
What information do you need to provide to have a COI issued by your movers insurance company?
Your mover will request the following:
A sample COI for each building (the building management normally have these). If they cannot supply a sample you need to get the exact verbiage for:
The Certificate Holder(s)
The Additional Insured(s)
You also need to provide the following details of the person (in your buildings management) to whom the COI will be issued:
Their contact details (email address, office phone and fax numbers)
If your moving company fails to provide a COI in a timely manner they will be denied entry to your building.
At Irish Moving & Storage Llc, the COI’s are issued directly from our insurance company. We also provide our clients with copies and we also have a hard copy on hand with the Foreman on move day to avoid any un-necessary delays.
Choose your New York City Moving Company wisely! It’s the attention to detail that ensures a smooth, stress free moving experience.
Yours Truly, Bob Stevenson.