A certificate of insurance (COI) is essentially proof of coverage and indicates which insurance company insures the risk. COIs generally serve as evidence of insurance in lieu of an actual copy of an insurance policy.
The State of Florida Department of Financial Services (DFS) is receiving an increase in inquiries and seeing more violations in regard to agents and agencies charging their customers for issuing COIs. While there are several fees that agents are permitted by statute to charge, such as policy fees by a managing general agent, fees for issuing certificates of coverage are not allowed under the law. If you are being charged for this service, you should report your agent to the State of Florida. The Department will hold the agent responsible even if he or she delegated the issuance of the certificates to another person in his or her office.
According to DFS, agents are expected to absorb these service costs based upon current laws.
Here at Bob Lancaster Insurance we DO NOT charge additional fees for our services!
Contact us for all your Insurance needs! (321)725-1620
Bob Lancaster Insurance
Serving Florida since 1964
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