ACORD 28 Form (2016/03) Commercial Property Insurance PDF

ACORD 28 (2016/03)

Evidence of Commercial Property Insurance

Form Number:

ACORD 28 (2016/03)

Category:

Property Insurance

Last Updated:

March 2016

Page Count:

01 page

File Format:

PDF, Fillable PDF

Acord 28 (2016/03) Fillable

The Acord 28 form, an evidence of commercial property insurance, is often required for real estate, commercial transactions, or construction. The form provides proof to all involved parties that a commercial property has active insurance coverage. The certificate holder ensures the risk management and avoids financial loss from the property.

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Benefits of ACORD 28 Fillable Form

Loan Approval or Mortgage

The Acord 28 fillable form helps property owners lease, rent, or obtain loan approval for their premises.

Evidence of Property Insurance

The form includes all important details, such as policy coverage, property details, insured parties, and the certificate holder’s information. The summarized information fulfills the lender, landlord, or business partners’ requirements to get evidence of property insurance.

Transparent Communication

The form contains details and ensures transparent communication between all parties to verify the property insurance coverage.

Reduce Financial Loss

Acord 28 certificate holder requests that the insurance agent or broker file a claim for a property loss to mitigate the financial loss.

Key Sections of the Acord 28 Certificate Form

Producer Information

Includes the comprehensive details about the insurance provider to record the issuing authority.

Insured Details

Contains the details of all involved parties who want proof of commercial property insurance coverage.

Insurance Policy

Records the details of the insurance company and policy for the property.

Property and Coverage Information

Ensures to provide the location and description of the commercial property and details of coverage with deductible amounts.

Cancellation Clause

Mention the conditions for cancellation of an insurance policy before expiry.

Authorized Representative Signature

Includes the name and address of additional interests involved and ensures the authorized representative’s signature to validate the document.

How to Complete ACORD 28 PDF Form?

  1. Write the name, address, and contact details of the insurance agent or broker.
  2. Mention the name and address of the property owner and the involved insurers interested in the property.
  3. Write the name and address of the insurance company to contact the right person for claims.
  4. Provide the policy type, loan number, policy number, effective date, and expiration date.
  5. Write brief description and location of the commercial property.
  6. Mention the insurance coverage for a specific property with limits and deductible amounts.
  7. Write the cancellation clause to ensure transparency.
  8. Write the name and address of the certificate holder and get an authorized representative’s signature.
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Frequently Asked Questions

The Acord evidence of commercial property insurance form is often used to verify the insurance coverage of a property. It helps the certificate holder to understand that the property is properly insured against the specific perils.

The landlord, lender, or business partner requires the form to lease or rent the commercial property to verify the insurance coverage.

An insurance broker or agent can fill this form online, facilitating the e-signature.

Contact your insurance provider and request to file a claim form for the insured property mentioned in the form.

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