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In this article, we will share how to track COI (Certificate of Insurance) in Excel. Simply follow the process below.
Access our free COI (Certificate of Insurance) tracking spreadsheet template for Excel and Google Sheets below:
COI Tracking Spreadsheet for Excel
COI Tracking Spreadsheet for Google Sheets
Follow the steps below to use our COI tracking template.
For each new COI, enter the details in a new row. Start with the 'Vendor Name' and fill out each column accordingly: 'Policy Number', 'Insurance Company', 'Policy Type', 'Coverage Amount', 'Effective Date', 'Expiration Date', 'Contact Information', and 'Notes'. Ensure accuracy to avoid future discrepancies.
When a COI is renewed or changed, update the existing record. Keeping this information current is crucial for managing risks effectively.
Regularly review the 'Expiration Date' column to identify upcoming expirations. Set reminders to contact vendors for updated COIs. Keeping ahead of expirations ensures continuous coverage and compliance.
Utilize Excel's filter functionality to sort or search your data. For instance, you can filter by 'Expiration Date' to see which COIs are expiring soon or by 'Policy Type' to review specific coverage types. This makes managing your COIs more efficient.
Regularly back up your COI tracking template. Save copies in different locations, such as an external hard drive or a cloud storage service. This precaution prevents data loss due to unexpected events like computer crashes.
Periodically, audit your COI tracking to ensure accuracy and completeness. Verify that all active vendors have current COIs on file and that the information matches the actual certificates. This process helps identify any gaps or errors in your tracking.
We hope that you now have a better understanding of how to track COIs using our template for Excel. If you enjoyed this article, you might also like our article on Contract Summary Template for Excel or our article on Insurance Policy Tracking template.