Shipping your car requires careful planning to ensure the safety of your vehicle. One critical step is verifying the Certificate of Insurance (COI). This document confirms that the carrier company has valid insurance coverage. In that blog, we will consider how to check the COI carefully.
What is a COI (Certificate of Insurance)?
The Certificate of Insurance (COI) is proof of the carrier company’s insurance policy. It details the types of coverage, coverage limits, and policy dates, ensuring the company can cover potential damages during transit. It is one of the most important things for car transportation. Quality checking of that document could save a lot of time, money, and nervousness.
How do you verify the company’s COI?
1. Request the COI of the Car Shipping Company
Ask the shipping company for their COI before finalizing your agreement. Legitimate companies will provide it quickly and without any problems. If they doubt, consider it a warning sign.
Make sure that COI is sent to your email from the official Insurance Company email. It has an email address which is connected with the domain of their official website. It also has contact with the insurance agent with first and last name. Suppose you received the COI directly from the carrier or from a non-official email. Be careful, it could be a scam!
2. Request the COI’s Certificate Holder
Make sure that your company is registered as a certificate holder. It is important because they are the person or entity entitled to insurance benefits listed on the Certificate of Insurance (COI). For car shipping, it ensures that you, as the customer, are legally recognized to claim compensation if damage occurs during transit. This provides protection and peace of mind throughout the shipping process. It also has to be sent from the official Insurance Company Email
3. Verify the Insurance Provider
Check the insurer’s authenticity: Search for the insurer online. Once you receive an official email from the COI, copy their domain and paste it to search and make sure that it leads to the official website of the insurance company.
Contact the insurer to confirm the policy’s validity. Take the number from the official website or from Google, and provide the policy number, insurance agent, company name, and other details. Make sure that everything matches and insurance is active and valid.
4. Review Coverage Details
Understand the coverage provided:
- Liability Coverage: Covers damages caused by the company’s negligence.
- Cargo Insurance: Covers transit-related damages like dents or total loss.
- Exclusions: Identify situations not covered, such as weather-related damages.
- Coverage Limits: Ensure the coverage amount is sufficient for your vehicle’s value.
5. Check Policy Dates
Make sure the insurance policy is active and will remain active and valid during the entire shipping process. Please check steps 2 and 3 to ensure that you are checking dates on legal and valid Certificate of Insurance.
6. Verify Company Details
Confirm that the COI lists the correct carrier company name. Any discrepancies should be considered and investigated before the deal.
7. Seek Clarifications
If anything in the COI is unclear, ask the carrier company or agent for an insurance expert for clarification and explanation of all disconnects.
8. Retain a Copy
Keep a copy of the COI for your records. It serves as proof of insurance coverage in case something happens.
Final Thoughts
Verifying the COI is pivotal to protecting your vehicle during transportation. These steps ensure you choose a reliable company and secure sufficient coverage of your vehicle.
%201.svg){kind=icon}
