{"id":15028,"date":"2022-01-05T15:00:00","date_gmt":"2022-01-05T20:00:00","guid":{"rendered":"https:\/\/www.renthop.com\/content-manager\/?p=15028"},"modified":"2023-07-22T11:36:32","modified_gmt":"2023-07-22T15:36:32","slug":"all-you-need-to-know-about-a-certificate-of-insurance-in-nyc","status":"publish","type":"post","link":"https:\/\/www.renthop.com\/blog\/all-you-need-to-know-about-a-certificate-of-insurance-in-nyc\/","title":{"rendered":"All You Need To Know About A Certificate of Insurance in NYC"},"content":{"rendered":"\r\n

Moving<\/a> apartments is stressful, especially in New York City<\/a>. It’s expensive, time-consuming, and requires many logistics. It is essential to cover all of your bases in order to prevent potential mishaps when you are moving. If you decide to use a moving company<\/a> to make the process a bit simpler, there are still administrative tasks. Your new building will likely ask for a certificate of insurance in NYC, also called the COI. Luckily, most companies know they’ll need to provide this information when you hire their services.\u00a0<\/p>\r\n\r\n\r\n\r\n\r\n\r\n

What is a Certificate of Insurance?<\/h2>\r\n\r\n\r\n\r\n

Let\u2019s start off with the basics of what a COI<\/a> is. Property managers request a COI to verify that the moving company is legally liable under insurance to deal with any sort of damage that may occur during your move in. This relieves the burden of responsibility from landlord<\/a> as they will simultaneously not be held accountable for any of the damage even if it does happen within the bounds of their property. When hiring a moving company, simply ask for their COI due to building rules and most will happily comply. If the moving company denies proof of certificate of insurance, then the management company will not allow them to proceed with the move.\u00a0<\/p>\r\n\r\n\r\n\r\n

What does a COI cover?<\/h2>\r\n\r\n\r\n\r\n

Now, we can take a look at what exactly a COI covers. This is not to say that all COIs cover what is mentioned, but most do. So, it is important to double check before you proceed. COIs cover: umbrella coverage, cargo insurance, workers compensation, automotive liability, and liability insurance. The amount of coverage per move is usually about one to two million dollars, but some buildings require the coverage to add up to a certain amount.\u00a0<\/p>\r\n\r\n\r\n\r\n

There are specific pieces of data that a COI may include that a management company will look for. You should take the steps in reading over the COI provided and making sure it checks all necessary boxes. The COI needs to be addressed to the person authorized by the building you are providing the COI. It also should state the movers that are insured, the address of the building you are planning on moving into, and how much the certificate covers.\u00a0<\/p>\r\n\r\n\r\n\r\n

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