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In the video tutorial, the importance of a Certificate of Insurance (COI) is emphasized, with the Accord 25 form being the most commonly used type. This form consolidates essential insurance policy details on a single page, serving as proof of insurance. The COI summarizes key information such as coverage type, effective date, and policy limits. The video provides a COI template for viewers to download and learn from, as different editions and versions of the form exist. It is crucial for companies to have a complete COI for easy access to pertinent policy information.