Elmira Certificate of insurance

Good news! You're doing great business, so much that you need to expand rapidly. You might need to hire on sub-contractors for the first time ever, rent equipment or an additional workspace to deal with overflow, or finally get that booth at a trade show and start presenting rather than just attending. So you have your Elmira certificate of insurance information updated and ready to go, right? No? Well, now is definitely the time!

A certificate of insurance is a simple but important document that you need to have if you plan on working with contractors, property managers, or organizing bodies. Simply speaking, it is an official synopsis of your coverage under your existing insurance policy as written by your brokerage or insurance company.  This document includes all the pertinent information about your coverage – what kind of coverage you have, how much is covered, the dates the policy is in effect, and so on. 

The reason you will be asked for this document is similarly simple – to protect everyone involved in a business arrangement. Let's look at an example when working as a sub-contractor. Your business liability insurance covers your business, and that includes any kind of accident or loss that occurs while working as a sub-contractor for another company. However, if you don't have the proper insurance to cover the damages caused by an accident (say some very valuable equipment was destroyed, or an accident set the project back for a significant period and resulted in a diminished payout), all of a sudden the company that hired you can be left on the hook for the loss. This means headaches and hardships for them and a nasty legal battle heading your way.

By requiring sub-contractors to present their certificate of insurance before being hired for a job, all of this can be avoided. Everyone knows what kind of insurance everyone else is carrying and you can all do business without worrying that another group's accident or disaster is going to spell doom for you as well. 

So before you start seeking out sub-contractors for a job, or start looking at rental spaces, be sure to call up your Staebler broker and let them know you need a Elmira certificate of insurance! We'll be happy to not only draft one up for you. We're also always happy to review any insurance requirements with you. If an interested party presents you with a list of insurance requirements, let us know and we'll help compare your policy against those requirements, make sure it fits, and point out any gaps that might need to be covered before you submit your offer.