Certificate of Insurance (COI)
A document issued by an insurance company proving that a carrier has active auto liability, cargo, and general liability insurance coverage. Shippers and brokers require COIs before tendering freight to verify that a carrier has adequate coverage to protect the shipment. The COI lists policy numbers, coverage amounts, effective dates, and the insurance company's contact information.
Detailed Explanation
A document issued by an insurance company proving that a carrier has active auto liability, cargo, and general liability insurance coverage. Shippers and brokers require COIs before tendering freight to verify that a carrier has adequate coverage to protect the shipment. The COI lists policy numbers, coverage amounts, effective dates, and the insurance company's contact information.
Example
Before booking a $200,000 load of electronics, a shipper requests the carrier's COI and verifies $100,000 cargo coverage, $1M auto liability, and that the policy is current — not expired.
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