(October 2022)
ACORD forms are designed primarily for use with products associated with standard insurance industry rating and forms organizations, such as the Insurance Services Office (ISO), for use with its manuals, rules, rating plans and coverage forms, such as the Auto Dealer Coverage Form. For the most part, ACORD forms are relatively generic in nature. If this coverage is written in combination with a specific independent specialty or company program, company specific forms may be needed instead of, or in addition to, the normal ACORD forms.
Note: Only countrywide forms are listed in this section. Specific state ACORD forms are not listed.
Form 125–Commercial Insurance Application–Applicant Information Section
All the information
requested in this form is relevant and important. Be sure to check the
appropriate boxes, so the insurance company underwriter understands the lines
of insurance being submitted for consideration. Both the first named insured
and all insureds must be listed for coverage to apply. The applicant
information is important for notification purposes covering a number of
disciplines, such as the inspection, financial and premium audit functions.
Loss information on larger accounts should probably be submitted in the form of
copies of currently valued loss runs for the past five years, as well as for
the current year to date. Accurate and currently valued loss information for
the latest three full and complete years is required for experience rating on
larger accounts.
Form 128–Garage and Dealers Section
All information on this form is relevant. However, it is not final until Form 138 is completed and attached. Because of the way auto coverage is provided, there are no spaces to list vehicles. Form 129 is used to list them.
Form 129–Vehicle Schedule
This schedule should be used when the named insured has more than four autos. It may not be needed by many dealerships because of the way autos are covered.
Form 138–By State Garage and Dealers
Coverage and Limits Section
All information must be completed. Appropriate symbols for each coverage
must be entered. The desired limits and deductibles must also be entered. Form
138 is different for each state. If operations are conducted in more than one
state, a form 138 for each state should be completed because each state has
unique questions that must be addressed.
Form
163–Commercial Auto Driver Information Schedule
This schedule should be used with accounts having more than twelve drivers. If company vehicles can be taken home and driven for personal use, all family members who might drive them must be included.