Navigating a move in New York City often involves more than just packing and transporting your belongings. One crucial aspect you need to consider is the Certificate of Insurance (COI). This document has become a standard requirement, not just for large luxury buildings but increasingly for smaller residences and brownstones. Here’s what you need to know about COIs and why they’re essential for your move.
What is a Certificate of Insurance (COI)?
- A COI is a document summarizing a moving company’s insurance policies on one or two pages.
- It protects the involved parties from liability in case of property damage or injury during the move.
COI Components:
- COIs detail the mover’s insurance policies, including workers’ compensation, automobile, and general liability.
- They list the policyholder (moving company), certificate holder (tenant, building owner, or management), additional insureds, policy limits, and expiration dates.
- Cool Hand Movers, for instance, offers general liability insurance up to $5,000,000, often exceeding the minimum requirements by NYC buildings.
Why COIs Matter:
- A valid COI indicates that the moving company can cover liabilities like property damage or injuries.
- Operating without insurance puts the movers, clients, and employees at risk.
Certificate Holder vs. Additional Insured:
- The Certificate Holder is the entity requesting the COI, while additional insureds might include property managers or affiliated companies.
Key Takeaways:
- Always hire licensed, insured movers to ensure your move is adequately covered.
- Low rates might indicate a moving company is unlicensed or uninsured, increasing risks for everyone involved.
- COIs apply to various services, including moving bin deliveries, staging help, loading, and internal building moves.
Understanding and securing a Certificate of Insurance is a critical step in ensuring a safe and compliant moving process in New York City. BoxUp is able to provide COIs, just add them to your order. As a licensed and insured mover, Cool Hand Movers also provides certificates, included with your moving services. Mention BoxUp when you request a quote for moving and receive 10% of your flat rate.
