Your step-by-step guide to completing the ACORD 160 (Business Owner’s Policy)
What Is the ACORD 160?
The ACORD 160 (Business Owners Section) is used when applying for or renewing a Business Owner’s Policy (BOP).
It captures essential details about your client’s property, liability, and operations, giving carriers everything they need to rate and quote accurately.
Think of this form as the bridge between the ACORD 125 and the final policy—it ties together every aspect of your client’s business under one umbrella.
💡Agent Tip: A well-completed ACORD 160 not only speeds up quoting but helps avoid last-minute underwriting questions.
Step 1: Policy & Applicant Details
Move to the top section labeled Business Owners Section (Attach to ACORD 125).
You’ll need:
- Agency name, carrier, policy number, NAIC code, and effective date
- First Named Insured (must match ACORD 125)
- Policy type (Standard or Special)
- Estimated premiums and deductible credits
📋Tip: Keep every data point consistent across forms—misaligned policy info can delay binding.
Step 2: General Information
Start with the first section of the form—nine foundational questions about your client’s operations.
Here’s what to look for:
- Hazardous materials storage or disposal?
- Sponsored athletic teams (type, contact level, age group)?
- Certificates of Insurance from subcontractors or suppliers?
- Employee leasing to/from others?
- Any other businesses owned or operated?
- Involvement in manufacturing, relabeling, or repackaging?
- Equipment rental to others?
- Hours of operation (after 9 p.m. or 24-hour)?
🧠Pro Tip: Each “Yes” answer should include a short explanation or supporting documentation (attach ACORD 101 if needed).
Step 3: Liability Coverages
This section outlines the key liability protections in a BOP.
Fill in:
- Bodily Injury & Property Damage limits
- Personal & Advertising Injury
- Products & Completed Operations (with retro date if applicable)
- Medical Expenses per person
- Optional coverages such as EPLI, D&O, or Liquor Liability
💡Agent Tip: Be clear about deductible amounts and whether coverage is Primary or Excess. Carriers price based on this distinction.
Step 4: Premises
Document the insured locations before you dive into building and property specifics. For each premises:
- Location/Building IDs and full address
- Building description and all occupancies at the premises
- Surrounding exposures (right/left/front/rear)
- Distances to hydrant and fire station; fire district/class codes
- Class code, territory, rate group
- Annual sales/receipts and total payroll (if shown at premises level)
- Check if primary premises
🧩 Why it matters: Premises context drives protection class, exposure scoring, and rating basis before property details are applied.
Step 5: Property Details
Now, describe the insured’s building and contents.
Include:
- Location & Building number
- Construction type, year built, stories, and total area
- Protection systems (sprinklers, alarms, hydrants, fire district class)
- Coverage limits for Building, Business Personal Property, and Business Income
- Valuation (Replacement Cost or ACV) and deductibles
💡Pro Tip: Highlight upgrades (e.g., new roof or wiring) to improve carrier appetite and pricing.
Step 6: Property Coverages & Endorsements
Select add-ons that match exposures:
- Business Income w/ or w/o Extra Expense; Dependent Properties
- Equipment Breakdown; Data/Media; EDP/Computers
- Debris Removal; Spoilage; Valuable Papers; Signs; Transit
- Ordinance or Law (Demo, Increased Cost); Mine Subsidence (where filed)
- Flood/Wind/Hail terms as applicable
- Crime/Employee Dishonesty/Money & Securities (if written under property)
- Contractors Equipment/Installation floaters, Fine Arts, Fungi/Bacteria limits
Tip: Keep deductibles/limits aligned with actual risk and lender requirements.
Step 7: Premises General Information
Answer location-level risk controls:
- Heating or processing boilers present?
- Any specialized equipment > $100,000 (describe)?
- Annual inspections & maintenance up to date? (Y/N)
- Swimming pool on premises? (fence, slide, diving board, lifeguard, limited access)
Why underwriters care: These factors affect severity potential and eligibility.
Step 8: Apartments & Condominiums
For multi-unit residential exposures:
- Playground on premises? Aluminum wiring used?
- Smoke detectors (none/battery/wired)?
- Coverage basis: Bare Walls vs. Finished Walls
- Property manager employed? Developer/contractor on board?
- Building under construction?
- Number of fire divisions, units per division, owner-occupied units
Tip: Exact building data prevents mis-rating and post-bind issues.
Step 9: Crime & Security Information
Here’s where you detail how your client protects their business:
- Safe or vault details, manufacturer, and UL rating
- Alarm type (local, central station, or police connected)
- Deposit frequency and cash amounts on premises or with messenger
- Door locks and lighting
🔐Agent Tip: Detailed security info can lead to credits or faster approval from underwriters.
Step 10: Premium Summary & Signatures
Finally, verify totals and close out the form:
- Confirm estimated premiums, taxes, and surcharges
- Collect signatures from both the producer and the applicant
- Include your National Producer Number (NPN) if required
💡Final Tip: Attach your ACORD 125 and any related supplements (ACORD 126, 130) for a complete submission.
📝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.