COI Insurance Calculator

What does a Certificate of Insurance actually cost?

What is a COI? A Certificate of Insurance proves a contractor, vendor, or tenant has liability insurance. Businesses often require subcontractors to carry $1M or $2M in liability coverage before starting work.

How it works: Most small businesses pay $500-$2,000/year for a Business Owner's Policy (BOP) that includes general liability. Adding an umbrella policy ($1M) typically adds $300-800/year. The COI is free from your insurer — but the insurance costs you.

Who it's for: Contractors, event planners, landlords, and businesses that require vendors to show insurance.
Coverage Requirements
Estimated Insurance Costs
General Liability / Year
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Business Property / Year
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Umbrella / Year
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Total Annual Premium
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Cost Per Month
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As % of Revenue
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Estimates only. Actual premiums depend on claims history, coverage limits, deductibles, and specific business operations. Get quotes from at least 3 insurers.

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Frequently Asked Questions

What is a Certificate of Insurance (COI)?

A COI is a document issued by your insurance company proving you have coverage. It shows policy limits, coverage dates, and the types of coverage in force.

How much liability insurance do I need?

For most small businesses, $1M/$2M general liability is the minimum. Contractors often need $1M auto liability and $500K-$1M professional liability. Your clients may require specific limits.

How do I get a COI?

Request one from your insurance agent or carrier. Many insurers issue COIs within 24-48 hours. Your client should be listed as an additional insured if required by your contract.