ACORD 140 Property Section Form – Free & Fillable PDF

ACORD 140 (2014/12)

Property Section

Form Number:

ACORD 140 (2014/12)

Category:

Commercial Property Isurance

Last Updated:

December 2014

Page Count:

02 page

File Format:

PDF, Fillable PDF

Acord 140 PDF Form

The Acord 140 form, a commercial property section, is an important document used in the commercial property insurance process, containing detailed information regarding the building or property that businesses need to insure. It supports insurers and underwriters with clear details of coverage requested, loss history, construction information, and property details. The document is a part of the Acord from’s library and is attached along with Acord 125 and Acord 126 when applying for a commercial insurance package. Get it in a fillable, downloadable, or printable format and simplify your paperwork.

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Benefits of Using Fillable Property Section Form

Multiple Properties or Locations

If a business owner has multiple buildings located in different locations, the form lets you list them all in one place or attach additional sheets. It is suitable for business owners who have multiple properties and need to insure them under one policy.

Easier Risk Evaluation

The Acord 140 form helps insurance companies evaluate the risk associated with insuring your building. Additionally, it helps ensure that you are properly covered based on your property’s history, including any prior claims or property losses.

Quick Insurance Process

Insurers may require accurate property details before offering a quote. The form provides them with data in a centralized and standardized format, helping the insurance company process your quote without delays.

Clear Coverage Request

Acord 140 property section form lets you enter the exact coverage amount, deductibles, and types of coverage you want, such as business income protection or property coverage. It helps insurers clearly understand what you’re looking for.

Key Sections of Fillable Acord 140

Applicant & Agency Information

It collectes information about the agency and the applicant, including the Insurance company’s name, address, contact details, policy number, and date.

Building’s Location Details

Here, you list the properties you want to insure. It includes the property address, number of floors, year built, and the number of buildings, helping insurers understand the size, use, and risk level of the building.

Mortgage Holders

This section contains a list of any third parties that have an interest in the property. The section could include:

  • Loss payees
  • Banks
  • Lenders
  • Mortgage companies

Loss History

It keeps a record of the loss date, type of incident, amount paid by insurance, and what happened to the building, etc.

Special Notes

There is an open end at the end of the form, where you can enter coverage instructions, special conditions, building features, request for endorsements, and more.

Signature

It requires the producer’s and applicant’s signatures to acknowledge that the given data is correct.

How to Fill Out Property Section Acord 140?

  1. Access The Form: Download or open the fillable form in a web browser, and it is ready to edit.
  2. Enter Information: Enter the general information, including the insurance company name, contact details, policy number, and address.
  3. Enter Property Details: Write down or type the exact property’s address, type of business, total number of floors, construction class, and area in square feet.
  4. Specify Coverage: Enter the type of coverage, such as building coverage, business income, business personal property, etc.
  5. Construction and Protection Info: Specify the construction details like materials used (wood, steel, or concrete), year of construction, and built-in protection system (alarm or sprinklers).
  6. Loss History: Specify the losses or claims that the business has had in past years. Enter the date, type of claims, amount, and reason.
  7. Review: Read the form carefully before printing and downloading to verify the provided information. Cross-check if the columns are missing.
  8. Download & Save: After completion, download or print the form as a PDF.
Download PDF Fill Online Print Form

Frequently Asked Questions

Yes, the form is compulsory and is required by insurance carriers to proceed with a coverage quote.

It is a standardized document used to collect property-related information. It helps insurers to assess risks and calculate premiums.

Business owners, insurance agents, and brokers can complete the form using the information provided by the business.

Usually, it takes around 15 to 20 minutes to complete the form. If the business has multiple locations, it may take a few more minutes.

yes, you can list multiple business locations or buildings in a single form or attach additional sheets.

A missing application may lead to delays or rejections. The insurance company asks you to resubmit the application after completing the missing information.

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