ACORD 127 (2015/12) – Business Auto Section PDF
ACORD 127 (2015/12)
Business Auto Section
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Form Number: |
ACORD 127 (2015/12) |
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Category: |
Commercial Lines |
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Last Updated: |
December 2015 |
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Page Count: |
04 page |
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File Format: |
PDF, Fillable PDF |
Acord 127 Business Auto Section Form
An Acord 127 fillable form is often used to enhance business auto insurance coverage. The detailed information, including the driver, vehicle, additional interests, and business operation, helps the insurer underwrite coverage. Accurately completing the form ensures financial protection against accidents or theft.
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Benefits of Using Acord 127 PDF
Accurate Risk Assessment
The Acord 127 PDF form ensures comprehensive information about the vehicle and driver to determine the accurate risks.
Avoid Penalties
The form includes state-specific coverage for garage and driver’s information to meet the state criteria that avoid penalties.
Avoid Contractual Disputes
An additional interest section on the form fulfills the loan or lease requirements to avoid contractual disputes.
Effective Premium Calculation
The vehicle’s usage details help insurers calculate effective premium costs to avoid overpayment for the business.
Key Sections of Fillable Acord 127
Driver Information
Records the detailed information to evaluate the driver’s risk and ensure accurate premium calculation.
Vehicle Description
Includes the insured and uninsured vehicle’s details to avoid a coverage gap.
Additional Interests
Records the lienholders’ and certificate holders’ details to ensure that the third-party interests meet the contractual requirements.
Remarks
Provides additional details to ensure enhanced coverage and helps insurers underwrite policies.
How to Fill Out Acord 127 Form Template?
- Write the agency’s name and address.
- Mention the carrier’s name and NAIC number.
- Write the policy number, effective date, and the insured’s name.
- Attach the Acord 137 to provide coverage/limits information for your state.
- Write the driver’s name, address, gender, marital status, date of birth, license number, hiring date, and experience.
- Explain all yes responses in the general information section.
- Write the additional interest’s name, address, item number, and reference loan number.
- Write the vehicle’s information, including make, model, year, type, usage, garaging address, and coverage.
- Mention the additional remarks for customized policy coverage to avoid miscommunication.
- Get the applicant’s and the producer’s signatures with the date to validate the form.
Frequently Asked Questions
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