ACORD 140
Property section
The ACORD 140 adds commercial property details to an ACORD 125. For each building it records what is insured and for how much, and the COPE details underwriters rate property on: construction, occupancy, protection, and exposure.
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What the ACORD 140 asks
- 01
Premises and building
The location and building numbers, which should match the premises on the ACORD 125.
- 02
Subjects of insurance
Building, business personal property, and business income, each with its amount, coinsurance, valuation (replacement cost or actual cash value), causes of loss form, and deductible.
- 03
Construction
The construction type, from frame to fire resistive, the number of stories, the year built, the total area, and the years the wiring, roof, plumbing, and heating were last updated.
- 04
Occupancy and protection
What the building is used for, the fire protection class, sprinklers, fire and burglar alarms, and the distance to a hydrant and a fire station.
- 05
Exposure and interests
What stands next to the building on each side, and additional interests such as mortgagees and loss payees.
Gaps underwriters chase most
- The years of the roof, wiring, or heating updates are missing.
- The sprinkler percentage or alarm details are left blank.
- Building values do not add up to the total on the statement of values.
- The construction type is missing for one of several buildings.
The check above finds blank fields and unsigned signatures. The rest of this list needs someone, or something, to read the documents side by side.
Submitted with
Get the whole submission ready for underwriting.
The application says 32 employees at one site. The loss run shows a claim at a second site. Klarefi reads the application, the loss runs, and the statement of values together, asks the broker about the second site in a chat, and adds the answer to the case file.
Free to start. EU data residency by default.
- 01
Send brokers one intake link
Brokers upload the application, loss runs, and statement of values, from any device.
- 02
Klarefi checks each submission
It reads every document, compares the facts, and asks the broker in a chat for anything missing or unclear.
- 03
Underwriters review a case file
Every fact links to the page it came from. Anything still open stays visible for review.
ACORD is a registered trademark of ACORD Corporation. Klarefi is not affiliated with ACORD. This page describes the form in our own words; get the official form from ACORD, your agency management system, or the insurer.