Legal Resources

Insurance Certificates: Why Lenders and Landlords Want Them

By Lauren Anderson

Lenders and landlords want proof of your property and general liability insurance. The Association for Cooperative Operations Research and Development (ACORD) created form insurance certificates, specifically an ACORD 28 (property) and an ACORD 25 (general liability). These certificates evidence your insurance coverage and can be requested from your insurance provider. Upon receipt from your provider, before sending to your lender/landlord, you should ensure that the ACORD 28 (property) certificate has: (i) the borrower/tenant as the named or additional insured, (ii) the correct property address(es), and (iii) the lender as “mortgagee” and either “loss payee” or “lender loss payable,” depending on the lender’s requirements, and that the ACORD 25 (general liability) certificate names the borrower/tenant as the named or additional insured and the lender/landlord as an additional insured. You should also check with your landlord/lender for any other requirements.