CIBNV is a Commercial Insurance broker. We help your business find the right and necessary Certificates, Endorsements, and Waivers of Subrogation that your business might need.
It is very common for a company to be asked to provide certificates of insurance (COI), Additional Insured Certificates, Policy Endorsements, and Waivers of Subrogation.
So, what is all this stuff about?
Certificates either provide evidence of insurance, just like the insurance card you carry in your car. Or they provide evidence that the certificate holder has been included in the coverage provided by the policy listed on the certificate.
Endorsements provide additional coverage extensions, that are not automatically included in most General Liability policies.
Waivers of Subrogation:
Waivers of Subrogation prevent an insurance company from holding the party named on the waiver liable, for claims arising from the policyholder.
The next logical question would be. How do I know what I need?
Lessors and property managers will ask for certificates proving coverage before a tenant moves in.
Businesses like contractors and vendors will be asked to provide Certificates, Endorsements, and Waivers on regular basis.
In either case, the certificate holder will provide details outlining what they require.
If a business has not been asked specifically for any Certificates, Endorsements, or Waivers, they are not necessary.
How much do Certificates, Endorsements, and Waivers cost?
Unfortunately, a business can expect the cost for all of it, but the most basic of additions, range from $100-$500 or more.
To save money, additions can be added on a “blanket basis” which means unlimited 3rd parties can be added with one upfront cost vs paying individually for each.
How can CIBNV help with certificates?
First CIBNV charges no additional fees for certificates, endorsements, or waivers.
Second, we understand the importance of prompt service, all certificates are issued in 24 business hours or less!