Professional liability insurance certificate
A professional liability insurance certificate is an official document that confirms coverage and provides important details about your professional liability policy.
What is a professional liability insurance certificate and why is it important?
After you purchase a professional liability insurance policy, you'll get a certificate of insurance (COI). This document has key information about your policy, provides proof of insurance, and is often required by clients, vendors, and licensing boards.
Although you may hear insurers refer to both professional liability and commercial general liability COIs as a certificate of liability insurance, they're actually different:
- A professional liability COI covers claims of incomplete work, professional negligence, missed deadlines, breach of contract, work mistakes, and accusations of not meeting your industry's standard of care.
- A general liability COI covers common third-party claims of bodily injury, property damage, product liability, and advertising injuries like libel and copyright infringement.
What's included in a professional liability certificate of insurance?
A professional liability certificate of insurance certifies that your small business carries professional liability insurance, also known as errors and omissions insurance (E&O) or professional indemnity insurance.
A COI provides a one-page summary of your coverage, which may be required to sign a contract, comply with state laws, or get professional licensing.
Most professional liability COIs follow the ACORD 25 standard form, which is widely recognized by clients, vendors, and licensing boards. Typically, a certificate of insurance will include:
- Basic information, including your name, business name, contact information, type of insurance, and your insurance provider's details, including the producer who placed your policy.
- Policy details like your policy number, policy limits (such as your per-occurrence limit and aggregate limit), your deductible, the effective date, policy period, and any additional insured information.
- Coverage scope, such as the type of work your business does and what the policy covers. Professional liability is usually written on a claims-made basis, meaning the policy will only cover claims that are filed while the policy is active, regardless of when the incident occurred.
Why do you need a professional liability certificate of insurance?
A professional liability certificate of insurance can provide many benefits to policyholders, including:
Fulfill licensing and compliance requirements
State laws and professional licensing boards often require proof of coverage before you can legally work in your field. Depending on your profession and where you’re located, you may need to submit a professional liability COI to:
- Apply for or renew a business license
- Enroll in a government program
- Comply with local laws
- Sign a client contract or start a job
Secure new business
Many clients and vendors must see a certificate of insurance before they sign a contract or let you begin a project. Having one ready to share eliminates a common barrier to closing deals. For larger clients with formal onboarding processes, it can be the deciding factor in whether a project gets the green light.
Build client trust
Having a professional liability COI on hand shows people that you’re a serious professional services business with protection against professional mistakes. By adding your client as an official certificate holder, they’ll be notified by your insurer if your policy is canceled or lapses.
This provides your clients with solid peace of mind knowing that if an error, oversight, or dispute arises from your work, you’ll be able to take financial accountability.
Top professions that need professional liability coverage
Don't see your profession? Don't worry. We insure most businesses.
How do you get a professional liability insurance certificate?
You can purchase a professional liability insurance policy and get a certificate in four easy steps with TechInsurance:
- Complete our easy online application
- Compare quotes from top-rated insurance companies
- Buy a professional liability policy online
- Download your professional liability insurance certificate
How long does it take to get a professional liability certificate?
You can typically get a digital COI the same day you buy professional liability coverage through TechInsurance.
If your business needs proof of insurance ASAP, our licensed agents are here to help you get insured quickly and securely for professional liability, workers’ compensation, commercial automobile liability, and many other coverage types.
Get professional liability insurance for your small business
TechInsurance helps small business owners compare professional liability policy quotes from multiple insurance carriers with one easy online application.
Apply today to find the right small business insurance coverage at the most affordable price for your business. Our licensed insurance agents can assist with professional liability and other important business insurance policies, such as general liability insurance.
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