Guide
Certificate of currency
A certificate of currency is the document that proves you’re insured. Here’s what it shows, who asks for one, what isn’t accepted instead, and how to get one.
- Based on government guidance, with sources
- What a certificate shows, and what it doesn’t
What is a certificate of currency?
A certificate of currency is a document from your insurer or broker that proves you hold a current insurance policy. Consumer Affairs Tasmania describes it as proof that you hold a current insurance policy, including the details and expiry of the policy.
It’s a summary, not the policy itself. The full terms are in the Product Disclosure Statement (PDS) and your policy schedule.
What a certificate of currency shows
Consumer Affairs Tasmania lists four parts:
| Part | What it shows |
|---|---|
| Your details | The insured party: the name and address of the person or business insured. |
| Policy details | The policy number, the type of policy, and its start and end dates. |
| Sum insured | The maximum amount the policy covers, such as a $20 million public liability limit. |
| Premium paid | The amount of premium paid, the date it was paid and how it was paid. |
If a council or client needs to be named on your policy, ask your insurer or broker before you request the certificate.
Who asks for one
| Who | Why |
|---|---|
| Licensing bodies | In Tasmania, trades contractors and building services providers upload a certificate of currency when they apply for or renew their licence. |
| Principal contractors in NSW | A subcontractor’s statement for workers compensation must be accompanied by the certificate of currency for that insurance, under section 175B of the Workers Compensation Act 1987. It relieves the principal contractor of liability for the subcontractor’s premiums. |
| Head contractors and clients | Many ask for proof of public liability before you start on site. |
| Councils | Permits for footpath dining, markets and events often ask for proof of public liability. |
What isn’t a certificate of currency
Consumer Affairs Tasmania won’t accept these in place of a certificate of currency, and warns that uploading anything else may delay or lead to refusal of a licence application or renewal.
- An invoiceIt shows a premium was charged, not that the policy is current.
- A policy scheduleIt sets out your cover, but it isn’t the certificate.
- A letter of eligibilityIt says you could be covered, not that you are.
How to get a certificate of currency
Your insurer or broker issues it once the policy is in place. Consumer Affairs Tasmania notes that most insurers let you log in and download it from their website, and you may have been given a copy when you applied and paid for the policy.
Check it before you send it: the insured name matches your business, the cover type and limit match what was asked for, and the dates cover the job.
If you don’t have cover yet, compare quotes first. Once you choose a policy, the certificate comes from your insurer or broker.
How to get covered through us
Certificate of currency questions
What is a certificate of currency?
A document from your insurer or broker that proves you hold a current policy, with its details and expiry.
Is a policy schedule the same as a certificate of currency?
No. Consumer Affairs Tasmania won’t accept a policy schedule, an invoice or a letter of eligibility in place of one.
How do I get a certificate of currency?
From your insurer or broker once the policy is in place. Many insurers let you download it from their website.
Why does a NSW principal contractor want my workers compensation certificate?
Under section 175B of the Workers Compensation Act 1987, a subcontractor’s statement with the certificate of currency attached relieves the principal contractor of liability for the subcontractor’s workers compensation premiums.
Does a certificate of currency expire?
It shows the policy’s start and end dates, so it’s only current while the policy is. When you renew, get a new one.
What insurance is mandatory in Australia?
For a business: workers compensation once you employ staff, CTP with every registered vehicle, home warranty cover for residential building work above your state’s threshold, and professional indemnity for some registered professions. Everything else is required by contracts, leases, councils and licences rather than by law. Our guide to compulsory business insurance lists each one with its regulator.
Can a certificate of currency name my landlord or client?
Yes. Ask your broker to note the landlord, council or principal contractor as an interested party on the policy. The certificate then shows their name, which is usually what the lease or contract asks for.
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Sources
Certificate of currency