What You Need to Know About a COI for Moving
In a major metropolitan area like Dallas, moving is not always as simple as gathering your belongings and finding a relocation partner. Before you or your movers can step into your new building, your property manager may require a certificate of insurance (COI).
A COI is a document from your relocation company that verifies and summarizes their insurance policy. Though most moves go off without a hitch, sometimes accidents happen. If damage occurs to the property you’re leasing, your relocation partner’s insurance may cover the damages. A COI gives you and your property manager peace of mind by proving that your relocation partner is properly insured.
If you know what to expect in the COI-request process, your moving company can handle the rest. Here are the answers to five frequently asked questions about your moving COI to keep you prepared.
How do I know if I need a COI?
Property managers of apartment complexes or newer residences are likely to request a COI from you. When you receive your lease, make note of whether or not you will need to provide a COI before moving day. If there isn’t any information about moving policies on your lease, follow up with the property managers of both your current and future residences to see if they need a COI from your relocation partner to move your belongings in or out. When it comes to requesting a COI, earlier is better, so make sure you plan ahead.
What does a COI include?
A COI lists the basic details of your relocation partner’s insurance coverages, including the name of the policyholder, what kind of coverage they have, any conditions or limitations, the effective dates and the name of your building. Your manager will use that information to confirm that the insurance coverage is sufficient. Most property managers will require a minimum coverage amount of 1-2 million dollars, so double-check that your moving company’s insurance meets the minimum requirements. In addition to liability, the insurance policy will usually also include workers’ compensation.
How can I request a copy from my relocation partner?
First, ask your property manager for a sample COI, which will show your relocation partner what kind of information your building needs. Send that sample along to your relocation partner, and they should take care of the rest. If your property doesn’t have a sample COI, jot down the name of the manager, along with their email, phone and fax numbers, to share with your moving company. To ensure that the COI gets to your building supervisor on time with the correct information, get the relevant information to your movers as soon as possible.
What should I look out for when requesting a COI?
Even if your building supervisor doesn’t require a COI, it’s a good practice to request one from your relocation partner anyway. A COI proves that a moving company is reputable and will protect you and your building on moving day. If your relocation partner charges a steep fee to provide a COI, that could be a sign that they cannot provide you with the coverage and service you need for your move. When reviewing the COI, pay particular attention to the name of the insurance company, listed policyholder, coverage amounts and expiration date to see if everything looks legitimate.
What happens if damage occurs on moving day?
Experienced relocation partners know how to get in and out of a building without leaving so much as a scratch on the walls or floors. However, on the off-chance that your building is damaged from the moving process, reach out to your move coordinator to address with the property manager.
Armstrong – Dallas has the experience and expertise to make your move as painless as possible. Our goal is to make your relocation simple and stress-free, and we strive to exceed expectations. Get started on the planning process for your move by contacting our experts today at 972.242.0511 or requesting a free quote online.
