Certificate of Insurance (COI)

What is a Certificate of Insurance (COI)? What CRE Firms Need to Know

Key takeaways:

COI definition: A certificate of insurance (COI) is an official document proving that a tenant, vendor, or contractor holds active, relevant insurance coverage.

COIs in real estate confirm that all parties on-site meet contract-specific insurance limits and endorsements, protecting owners from uninsured risk.

Visitt’s AI-native COI management system automates collection, validation, and renewals across CRE portfolios.

What is a COI?

A certificate of insurance (COI) is a standardized, formal document (often, but not always, an Acord 25 form) issued by an insurance company or broker that proves an individual or business holds active insurance coverage. It serves as official evidence of risk transfer between contracting parties, confirming that the policyholder accepts financial responsibility for any potential loss, damage, or liability that could occur while performing work or services.

Across industries, COIs act as checkpoints of accountability, used whenever one party’s work could create risk for another. They are especially necessary in commercial real estate (CRE), where each property operates as an ecosystem of tenants, service vendors, and contractors, all carrying distinct responsibilities and potential liabilities. When it comes to COI in real estate, a certificate of insurance verifies that every party interacting with the property—whether they’re leasing space, maintaining or repairing systems, performing construction, or hosting an event—has the coverage needed to absorb the risks tied to their activity. In doing so, the COI helps keep financial exposure segmented and is instrumental in ensuring operational continuity across the building or portfolio.

Smart PropTech or AI-based COI management software and COI tracking solutions use OCR and rule-based verification to:

• Read policy details
• Match them against contract requirements
• Flag missing or expired coverage
• Alert teams to lapses

What information does a Certificate of Insurance include?

Each line item of the COI insurance form corresponds to a specific legal or operational requirement in a contract, lease, or vendor agreement:

1. The insured’s name and contact information: The official legal entity covered under the policy. The name must exactly match the vendor, tenant, or contractor performing the work; otherwise, the COI may not apply to the actual activity or site.
2. Insurer(s): The company or companies underwriting the policy. This confirms that coverage is provided by licensed and financially stable insurers capable of paying claims.
3. Policy type(s): The category of insurance, indicating which exposures are covered: bodily injury, property damage, or professional errors.
4. Policy numbers: Unique identifiers for each coverage line, so the policy can be verified directly with the issuing carrier if needed.
5. Coverage limits: The maximum dollar amount the insurer will pay per incident and in total.
6. Effective and expiration dates: The start and end dates of the coverage period, confirming that insurance is active throughout the project, service contract, or lease term.
7. Certificate holder: The entity requesting proof of insurance, linking the COI to a specific building or contractual relationship.
8. Endorsements and conditions: Notes that clarify how coverage extends to other parties. These determine the order in which insurers respond to claims and whether the property owner’s policy remains protected.

COI  real estate requirements

Businesses request specific certificate of insurance forms depending on their risk exposure, contract terms, and regulatory requirements.

Why are COIs important for CRE firms?

Insurance compliance is one of the least visible yet most consequential aspects of commercial real estate operations. Every property depends on dozens of external parties, from vendors maintaining equipment and contractors performing upgrades, to tenants managing their own service providers. Each of these activities carries financial risk. If a vendor’s policy expires or a tenant’s insurance fails to meet lease terms, that liability shifts directly to ownership, potentially triggering major financial exposure, disruptions, and strained investor or lender relationships. So much so, that one Georgia property owner faced $250,000 in repair costs after a contractor’s liability policy excluded workmanship-related damages, leaving no coverage despite a COI on file. 

But when COIs are verified, they become a measurable, portfolio-wide control that:

• Prevent uninsured losses and downstream liability for property owners
• Ensure every vendor, contractor, and tenant meets contract-specific coverage terms
• Reduce financial and operational risk through continuous monitoring
• Minimize project delays by verifying insurance before work begins
• Consolidate compliance data across portfolios for ownership visibility
• Support lender, insurer, and investor requirements with validated documentation

Who uses COIs and how?

COIs connect every stakeholder involved in a property’s operations:

• Owners depend on them to protect assets 
• Managers use them to control vendor and tenant risk
• Service providers need them to qualify for work

Property owners and asset managers

Owners and asset managers use COIs to confirm that tenants, vendors, and contractors entering their buildings meet the insurance limits and endorsements defined in lease and service agreements. They review coverage levels and expiration dates to ensure risk is fully transferred and no uninsured exposure exists. Using centralized COI management software or a COI tracking system, they monitor compliance across multiple properties, making informed decisions about renewals, payments, and project approvals.

Property and operations managers

Operations teams rely on COIs as live compliance controls within daily workflows. Integrated COI tracking software and work order management systems automatically flag expiring documents, pausing assignments until new certificates are received. This prevents uninsured vendors from accessing mechanical areas or performing high-risk predictive maintenance, maintaining both safety and contractual compliance.

Tenants and commercial occupants

Each certificate confirms that the tenant carries coverage for property damage, bodily injury, and business interruption within their premises. Many tenants also request COIs from service providers, including cleaners, tech support, and catering companies, to align with internal risk and compliance policies, and make sure that the responsibility for potential incidents is clearly defined.

Service vendors and maintenance providers

Vendors treat COIs as credentials that determine whether they can be hired or stay active within a property’s vendor list. A valid certificate of insurance form confirms that their coverage is sufficient to take on financial responsibility for work performed, from preventative maintenance to emergency repairs. Those service vendors and office maintenance personnel operating across several properties often use certificate of insurance tracking software or a COI solution to keep records organized and verify subcontractor coverage. The centralized tracking helps vendors maintain consistent insurance levels and avoid service delays caused by expired or incomplete documentation.

Contractors and project teams

Contractors depend on COIs as a method of risk management, confirming risk transfer across every phase of construction or renovation. Project managers collect and validate COIs from all subcontractors through a COI tracking solution, ensuring proper insurance levels before permits are issued or work begins. These records protect both ownership and contracting firms from liability in the event of accidents, delays, or claims on-site.

Shared responsibility across the portfolio

Across all roles, the COI system acts as a shared accountability framework linking ownership, management, and service delivery. Automated COI software and COI tracking tools provide portfolio-wide visibility into who is compliant, whose coverage is expiring, and where insurance gaps could affect building operations or liability exposure.

What does COI management look like with Visitt?

Visitt’s COI module brings insurance compliance into the same workflow property teams use to manage vendor and tenant operations. Certificates, contracts, and permits are stored under each record, with past and upcoming versions tracked automatically. Expiration dates trigger reminders, and vendors or tenants receive update requests before coverage lapses.

Our AI COI agent’s reads insurance requirements directly from leases and vendor contracts, validates new certificates as they’re uploaded, and flags discrepancies or missing endorsements in real time. This, while compliance dashboards show active coverage across every building, vendor, and tenant, giving managers the context they need to make informed decisions and reduce uninsured risk portfolio-wide.

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