Your comprehensive step-by-step guide to completing the ACORD 140 (Commercial Property)
What Is the ACORD 140?
The ACORD 140 (Property Section) is the standardized application form used for commercial property insurance. It captures detailed data about business locations, building structure and protection, property values, coverages requested, and other key exposures—providing underwriters the information they need to evaluate and price a commercial property risk.
Step 1: Agency & Insured Identification
Start at the top of Page 1:
- Enter your agency name, contact information, and agency customer ID.
- Provide the named insured, policy number (if renewal), effective and expiration date.
- Input the carrier name and NAIC code if required.
💡Tip for Agents: Ensure the named insured and policy dates match the ACORD 125 submission exactly. Inconsistent info here often delays processing.
Step 2: Premises & Building Schedule
Next, complete the Premises Information grid for each location:
- Record the premises number, address, and building number.
- Provide a brief description of the building (e.g., “two-story warehouse with office area”).
- For each location, list the subject(s) of insurance, coverage amount, coinsurance %, valuation method (ACV or Replacement Cost), causes of loss (Basic, Broad, Special), deductible, and blanket number if applicable.
📌Pro Tip: If you have more than two locations, attach an Additional Premises Information schedule with consistent numbering to avoid confusion.
Step 3: Construction, Protection & Structural Details
Now dive into the building details and protective features:
- Construction type (Frame, Joisted Masonry, Non-Combustible, etc.)
- Year built, number of stories, number of basements, total area
- Protection class, fire district code number, distance to hydrant or fire station
- Roofing year, wiring/plumbing year, heating year, wind class where applicable
- Indicate security systems, sprinklers (%), alarm type and monitoring station.
💡Tip: Detailed protective features (like sprinklers, alarms, updated wiring) can significantly improve carrier appetite and lower rate.
Step 4: Additional Coverages, Options & Endorsements
In the Additional Coverages section, note any optional coverages or exposures:
- Business Income/Extra Expense (attach ACORD 810)
- Value Reporting (attach ACORD 811)
- Spoilage coverage, power outage, selling price, equipment breakdown
- Special coverages like sinkhole or mine subsidence (location-dependent)
- Other rating fields or variables such as # of open sides, historical landmark status.
📄 Note: Don’t assume blanket values – confirm which coverages apply and attach relevant endorsement/applications.
Step 5: Blanket Summary & Limits (If Applicable)
Many submissions will include a blanket summary if the insured wants one limit across multiple locations/items:
- Indicate type (Building, BPP), blanket number, blanket amount
- Confirm that the blanket summary is supported by schedules or value statements
- Ensure coinsurance, valuation method, and causes of loss align across the blanket and individual items.
💡Tip: When using blanket coverage, include value worksheets or audit reports to support the requested coverage.
Step 6: Additional Interests / Mortgagees / Loss Payees
At the bottom of Page 1 (and potentially Page 2) enter any additional interests in the property:
- Mortgagee, loss payee, certificate holder names and addresses
- Interest in item number (which building/location/item the interest refers to)
- Rank, reference or loan number, and if certificate required
- Confirm interest aligns with lease agreement or mortgage document.
🧩Tip: Verify names exactly (including punctuation and legal entity form) to avoid claim payment issues.
Step 7: Additional Premises Information (for extra locations)
On Page 2 and beyond:
- Continue the premises grid for any additional locations
- Include narrative or remark fields for exposures (e.g., leased satellite locations, seasonal locations)
- Note special location features such as open-sided buildings, remote sites, or high-hazard operations.
Step 8: Remarks & Signatures
Review all entries and confirm accuracy. Use the Remarks section for any needed explanations (for example, unusual occupancy, recent renovations, open-sided exposures).
Finally:
- Applicant signs and dates the form
- Producer signs and dates the form
- Attach key support documents: property value statements, inspection reports, previous loss history, scheduled equipment lists.
💡Tip for Agents: The ACORD 140 is your property risk narrative—a complete and accurate form helps underwriters understand the business and quote faster. Missing or vague info = delays and weaker terms.
📝How to upload your ACORD form on Semsee
Semsee is only able to accept ACORD forms 125, 126, 130, 140, and 160.
We’re unable to accept handwritten documents or files over 10MB. If the file includes any other forms or documents outside of the approved ACORDs, the upload will fail. Before submitting your form, make sure that you type in your information into the ACORD.
💡Final Agent Tip: Before you submit the ACORD form you must remove the instructional pages attached to the form. Try reprinting the form as a PDF, and customize the pages you want to save. Also, do not add an Endorsement page.