How do I check an insurance company?

Ryan Patrick O'Hara

Ryan Patrick O'Hara

Veteran
Suppose I get an insurance certificate for a set of lenses... and it obviously has a phone number, address and etc.

I'll surely call and confirm my client has gotten the necessary production insurance to rent my lenses, but how do I know who I am calling is real.

Meaning, is there a database for certified production insurance agencies? How can I be sure the number I call isn't to a fraud?

This may seem a little paranoid, but I'd like to know my babies are insured for real when they go out.

Am I paranoid?!
 
Due diligence means exactly that. Your entitled to be certain about things to your satisfaction. There's absolutely nothing wrong with needing to be certain. If I don't know someone or have never heard of a company, I'd have zero hesitation of just telling them so. I rather have someone be upset because they thought I was being a little over cautious than be out tens of thousands of dollars because I wasn't being cautious enough.
 
Every State has an Insurance Department, which has a data base of all insurers licensed to do business in that particular state. First thing I would do is call The California Insurance Department and inquire about their licenses.

Here's where it gets tricky, an insurance certificate may not acually be insurance. If it's some kind of warranty then that's not regulated by the insurance department, a warranty is not actually insurance. It gets a bit complicated but google the California Insurance Department or PM me if you need the number for them. .

You are not paranoid at all, trust me, I work for the NJ Insurance Department and we get all types of complaints about unlicensed agents/companies doing writing insurance. To take it further, you can even find out how many complaints have been filed against this particular company has.

Best wishes.
 
In some states it is called the state office of the insurance commissioner or just the California Insurance Commissioner. They can not only tell you if the company exist but also their rating. It is all public record and therefore you are entitled to the information.
 
A certificate of insurance is usually issued by the agent or agency that sold the policy. Call the agency, find the agent, and verify the certificate and type of coverage. They are obligated to do this on behalf of the policy holder. Usually, coverage for rented equipment is an additional rider purchased by the business you are renting to. This is not the same as contents or inland marine coverage for the equipment of policy holder. Said another way, covering your rental lenses or other rented equipment is something that your renter made a conscious effort to acquire, and it is somewhat expensive. If the certificate is only for general liability, then you are likely NOT covered. Your mileage may vary, but this is the standard way this coverage is done.

Grant
 
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