A certificate of currency is a short document that confirms your insurance policy is active on the day it's issued. It's one of the most commonly requested proof-of-insurance documents for Australian businesses. Clients, landlords, lenders and councils often ask for one before they'll let you start work, sign a lease or approve a contract.
If you've arranged your cover through upcover, most standard certificates of currency are available instantly once your policy is confirmed. That's the part most guides on this topic don't mention, so we've covered it in detail below.
Quick summary
- It confirms your policy was active on the day it was issued, not that it's still active today.
- It doesn't show every exclusion, and it isn't the full policy wording.
- Clients, landlords, lenders and councils are the most common requesters.
- You can get an instant certificate of currency through upcover once your policy is confirmed and paid.
What does a certificate of currency show?
A certificate of currency is a summary, not the full policy. It's built to answer one question fast: is this business currently insured. Most certificates include:
- Insured name. The legal name or trading name on your policy. This needs to match the name on your contract or lease exactly, or the certificate may be rejected.
- Policy type. For example, public liability or professional indemnity. Contract counterparties usually specify which type they need.
- Insurer. The company underwriting your policy, not the broker who arranged it.
- Policy period. The start date and expiry date. A certificate showing an expired policy won't satisfy most requests.
- Cover limit. The amount stated at the start of the policy period, commonly $5 million, $10 million or $20 million for public liability.
- Interested party. A third party named on the certificate, such as a landlord or lender, where the insurer accepts this. More on this below.
What doesn't a certificate of currency prove?
A certificate of currency is useful, but it has real limits worth knowing before you rely on one for a contract or site decision.
- It isn't the insurance contract. If the certificate and the policy wording disagree, the policy wording governs, not the certificate.
- It doesn't show every exclusion or condition. Full terms sit in the policy wording, schedule and any endorsements, not the certificate.
- It doesn't guarantee the policy is still in force today. A certificate only confirms the policy was active on the day it was issued. Cover can be cancelled, amended or left to expire afterward.
- It doesn't guarantee the full limit is still available. The limit shown is generally the limit at the start of the policy period. It doesn't confirm that limit hasn't been reduced by claims made earlier in the same period.
Certificate of currency vs certificate of insurance: what's the difference?
A certificate of currency in Australia and a certificate of insurance are usually the same document, just different names for it. Some insurers and industries prefer one term over the other, but neither is the full policy.
| Document |
What it shows |
What it doesn't show |
| Certificate of currency / certificate of insurance |
Insured name, policy type, insurer, dates, cover limit |
Full terms, conditions, exclusions or endorsements |
| Policy schedule |
A more detailed summary specific to your policy |
Full policy wording |
| Policy wording (and PDS, where the product has one) |
The terms, conditions, limits and exclusions that actually apply |
A quick, one-page document to share with a third party |
Swipe left or right to see the full table.
The full policy contract is usually made up of the policy wording, the schedule and any endorsements together, not a single document. A certificate is a shortcut for a third party, not a substitute for reading that contract.
Who asks for a certificate of currency, and why
Anyone entering a contract or arrangement with your business may want proof of cover before they proceed. Common requests come from:
- Landlords and property managers, before signing a commercial lease.
- Clients and enterprise contract counterparties, as a condition in a services agreement or master service agreement.
- Head contractors and builders, before letting a subcontractor start work on site.
- Councils, before approving an event, market stall or public space booking.
- Government tenders and procurement processes, as a standard submission requirement.
- Lenders, when insured business assets or equipment are used as loan security.
This isn't only a trades and construction requirement. Startups and service businesses can also be asked for one, usually as a standard clause in a client contract or office lease. Expect a certificate request as a normal part of enterprise onboarding, not an exception.
Interested party, additional insured and certificate holder: what's the difference?
These terms get used loosely, but they're not interchangeable, and the difference matters.
- Certificate holder is simply whoever receives the certificate. It doesn't give them any rights under the policy.
- Interested party is a third party named on the certificate, such as a landlord or lender. It shows they have a stake in your cover, not rights under it.
- Additional insured is a party actually added to your policy, with rights under it. This needs a policy endorsement, not just a certificate update.
Which one a contract actually requires depends on how that contract is worded. If in doubt, check what right the other party actually needs before assuming a certificate alone will satisfy the request. Adding an interested party or an additional insured is always subject to insurer acceptance.
Why does a certificate of currency get rejected?
A rejected certificate can delay a contract, a site start date or a lease. The most common reasons include:
- The certificate has expired. Always check that the dates cover the full period of the work or lease.
- The insured name doesn't match. A certificate under your personal name won't satisfy a request for your company name, or vice versa.
- The cover limit is too low. Some contracts specify a minimum, such as $10 million public liability.
- The interested party isn't listed. If a landlord or lender needs to appear on the certificate, this may need to be requested in advance.
- The policy type doesn't match the request. A public liability certificate won't satisfy a request for professional indemnity, even if you hold both.
Most of these issues are easy to fix once you know what's needed. It's faster to check contract requirements before you sign than after a certificate gets sent back.
How do you get a certificate of currency?
A certificate of currency is issued by your insurer or, more commonly, your broker, once your policy is active.
If you already hold a policy through upcover: most standard certificates are available instantly through your account once your policy is confirmed and paid. There's no need to call or wait on a broker's inbox. Requests beyond a standard certificate, such as a new interested party or specific wording, may need insurer review first. A certificate can't create cover that isn't already in your policy. An added waiver of subrogation, for example, needs a policy endorsement before it can appear on a certificate.
If you don't yet have the cover a contract is asking for: a certificate can only confirm insurance that's already in place. upcover arranges public and products liability insurance, professional indemnity insurance, business pack insurance and workers compensation insurance, subject to state rules and insurer arrangements. A client asking for proof of public liability is really asking whether you're covered if your work injures someone or damages their property. Arranging the right policy first is what makes the certificate possible.
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About upcover
upcover is a digital-first insurance broker helping Australian small businesses get the right insurance without the paperwork or phone queues. upcover arranges insurance for businesses across Australia, with access to 80+ insurance partners.
- 70,000+ businesses covered across Australia.
- 4.9/5 customer rating.
- Instant Certificate of Currency on policy confirmation.
upcover is a Corporate Authorised Representative (CAR 1299211) of Experience Insurance Services Pty Ltd ABN 41 657 596 506, AFSL 539078.
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Frequently asked questions
What is a certificate of currency used for?
A certificate of currency proves your insurance policy was active on the day it's issued. It's commonly used to satisfy a landlord, client, lender or council before a contract, lease or site access is approved.
Is a certificate of currency the same as a certificate of insurance?
In Australia, the two terms are usually used to mean the same document. Some insurers prefer one term, but neither replaces the full policy wording.
How long is a certificate of currency valid for?
A certificate is valid for as long as the policy period it shows remains current. If the policy is renewed, cancelled or changed, you'll need an updated certificate to reflect the new position.
Can a policy be cancelled after a certificate of currency is issued?
Yes. A certificate only confirms the policy was active on the day it was issued. It doesn't guarantee the policy remains in force afterward, which is why some contracts ask for a fresh certificate at renewal.
Does a certificate of currency cost anything?
Most insurers and brokers don't charge for a standard certificate of currency. Certificates that need custom wording or a new interested party may take longer, subject to insurer review.
Who issues a certificate of currency?
Your insurer or insurance broker issues the certificate once your policy is active. If your policy is arranged through upcover, you can request one directly through your account.
Do sole traders need a certificate of currency?
Sole traders may be asked for a certificate of currency by clients, landlords or councils, in the same way a company would be. It depends on the contract or arrangement, not your business structure.
The information in this article has been prepared without taking into account your individual needs, objectives or financial situation. It should not be relied upon as personal advice. All insurance products arranged through upcover are subject to the terms, conditions, limits and exclusions contained in the relevant policy wording and Product Disclosure Statement. Before deciding whether a particular insurance product is right for you, please read the relevant PDS and consider your personal circumstances. upcover Pty Ltd ABN 17 628 197 437 is a Corporate Authorised Representative (CAR 1299211) of Experience Insurance Services Pty Ltd ABN 41 657 596 506, AFSL 539078. upcover arranges insurance products with selected insurers and underwriters and does not compare all general insurers or insurance products available in the market.
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