What is the Difference Between a Policy and Certificate?

When you take out Standard Tenant Insurance, you will receive two documents:

The Policy (Master Policy)
The Certificate of Insurance (COI)

Each serves a different purpose.

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1️⃣ Policy (Master Policy)

This is the contract between MSI and the policyholder (typically a landlord, property management company, or partner organization).
It outlines all terms, conditions, coverage limits, and exclusions that apply to all insured tenants under the group plan.
The master policy governs the entire insurance arrangement and provides the framework under which individual tenants receive coverage.

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2️⃣ Certificate of Insurance (COI)

This is an individual document issued to each tenant covered under the group policy.
It serves as proof of insurance for the tenant, confirming that they are covered under the master policy.
It typically includes details such as the tenant’s name, policy number, coverage limits, and effective dates.
Important: It does not alter or override the master policy’s terms but simply confirms coverage under it.

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🔹 Key Difference:

✔ The Policy is the contract between MSI and the entity that arranges the insurance (e.g., a landlord or partner).
✔ The Certificate is issued to individual tenants as proof that they are insured under that group policy.

Updated on: 21/03/2025