ACORD 140 — Property Section
What is ACORD 140?
The ACORD 140 is the supplemental application for commercial property coverage. It captures building-specific details that underwriters need: construction type, square footage, year built, occupancy, fire protection, and valuation methodology.
Accurate completion of this form is essential for proper coverage. Undervaluation leads to coinsurance penalties at claim time, while overvaluation wastes premium dollars.
When do brokers use ACORD 140?
Required for every commercial property submission alongside the ACORD 125. Used for building owners, tenants seeking contents coverage, and any risk involving real property or business personal property.
Key fields explained
Building Information
Construction type (frame, masonry, non-combustible, fire resistive), stories, year built, square footage.
Valuation
Replacement cost vs actual cash value, agreed amount, and the specific building/contents/BI values.
Protection
Fire alarm type, sprinkler system, distance to fire station and hydrant.
Occupancy
Building occupancy percentage, tenant types, and vacancy status.
Perils
Basic, broad, or special form; wind/hail deductible; flood and earthquake exposure.
Common mistakes to avoid
Incorrect construction type classification affecting rate calculation
Undervaluing replacement cost leading to coinsurance penalties
Not updating building values for inflation and renovation improvements
Omitting business income / extra expense coverage exposure data
Related ACORD forms
Download the official form
Official ACORD forms are available from ACORD.org. This page explains how to complete the form — visit ACORD for the actual document.
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