Acord Form 140 - Property Section printable pdf download

Acord Form 140 - Property Section

TAKING THE MYSTERY OUT OF ACORD FORMS

COMMERCIAL PROPERTY APPLICATION ACORD 140

Quoting commercial insurance may appear complicated and a bit mysterious if you are not familiar with how to

fill out an ACORD application. The key is to be sure to collect enough information so that your underwriter can

accurately assess the risk, and provide you with the most competitive quote.

A commercial property application provides specific information on the premises, including the construction

type and protection class, as well as the business personal property information.

The follow are tips to filling out an ACORD 140 application- with highlighted information that is necessary to

obtain a quote:

(Please see the following page to match up the numbers with their corresponding questions on the application)

Premises # and Address - Determine how many properties and buildings will be covered (for larger

number of properties, and excel spreadsheet can be filled out and attached with this ACORD) and the

address of their location. Also a description of what the building/s is (ex: Business complex, Tavern)

Subject of Insurance - Distinguish between the Building, Business Property and Business Income.

List the Amount of coverage needed, if there is a Co-insurance clause %, how the property will be

valued (Actual Cash Value vs. Replacement Cost), desired deductible, and under “Cause of Loss”

indicate Special, Broad or Basic Form.

Building Information - To determine rates it is important to fill out all the boxes in this section. The

construction type, protection class, year built, building improvements, alarm system and fire protection

on property all play a vital role in rating and obtaining proper coverage for the premises.

Page 2 can be used for additional premises, please include information for all properties to be covered.

Please do not hesitate to call or email your underwriter with any questions:

425.453.8599 or 800.562.8095

Acord Form 140 - Property Section