Acord 139 Statement of Values (2015/12) – Fillable PDF Form
ACORD 139 (2015/12)
Statement of Values
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Form Number: |
ACORD 139 (2015/12) |
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Category: |
Commercial Property Insurance |
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Last Updated: |
December 2015 |
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Page Count: |
01 page |
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File Format: |
PDF, Fillable PDF |
Acord 139 Statement of Values
The Acord 139 form, also known as the Statement of Values (SOV), is a document used to describe the value of buildings, equipment, and business personal property that a business wants to insure. It helps ensure that everything is listed accurately and is secure under your insurance policy. Additionally, the form is both helpful and important for businesses with multiple properties and locations. Based on the collected information, an insurance company decides how much coverage you need and how much you will pay for it. Access the form now and fill it out online or download and print it easily.
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Benefits of Using Acord 139 PDF
Accuracy
By listing each building’s content value and replacement cost, the form enables insurance carriers to calculate premiums accurately, thereby avoiding overpayments.
Blanket Property Coverage
The insurance company requires the form as a supporting document if your business uses blanket coverage for multiple buildings across locations.
Prevents Disputes
It helps prevent disputes during claims. An accurate and clear record of insured property values eliminates disputes, serving as an important reference for settlement.
Key Sections of Acord 139 Fillable Form
Agency Information
It contains information about the applicant and the insurance agency, including the agency name, address, contact details, agency code, subcode, and agency customer ID, and the effective date of the policy.
Location Number and Description
Each property location has a location number. In this section, you have to list each property or premises using its internal ID or address.
Type of Property Covered
Describe the type of building that is being insured under the location. It includes BPP (Business Personal Property), equipment, stock, and personal property of others.
Carrier Details
Enter the insurance carrier name and NAIC code.
Applicant Details
List the applicant’s name, address, policy number, phone number, effective date, etc.
Insurance Values
The form allows you to enter the actual cash value, coverage limits for each location or item, valuation basis (ACV or Replacement Cost), and replacement cost.
Causes of Loss
Choose the cause of loss, such as Earthquake, flood, sprinkler leakage, and others.
Signature
Sign the Acord 139 Statement of Values to acknowledge that all the given values are correct.
How to Fill Out Statement of Values Acord 139?
- Access The Form: Download or access the latest fillable version of the Acord 139 form.
- Enter Details: Enter the insurance agency information, your business name, the effective date of the policy, and the policy number.
- Enter Property Details: List each building or location, including address and location number.
- Breakdown Each Location: Assign a building number to each location, list the building type, and add a coinsurance clause, valuation basis, special coverage notes, and estimated replacement cost.
- Calculate the Total Values: Usually, the form calculates total values automatically. If not, calculate the total values manually.
- Download & Submit: After completion, download or print the form and share it with your insurance agent.
Frequently Asked Questions
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