An Article by Noelle McCall, CIC, CRM, CCIP, ACRA, CISR

ACORD (Association for Cooperative Operations Research and Development) form certificates of insurance are the most commonly used certificate of insurance (COI) forms. This is likely because ACORD forms are standardized forms that 90 percent of insurance agencies use to streamline data transfer between companies. In addition, it is important to note that ACORD form certificates have been filed and approved for use in all 50 states. The ACORD forms include a range of COI's that serve different purposes.

Some of the most commonly used ACORD form COI's and their purposes are:

• ACORD 25 Certificate of Liability Insurance: This is one of the most widely used COI's. It provides evidence of liability insurance coverage and includes details such as policy limits, policy effective dates, and the name of the insured. It is often used to show proof of insurance coverage to clients, contractors, or other interested parties.
• ACORD 27 Evidence of Personal Property Insurance: This form is similar to ACORD 28 but is designed to show evidence of personal property insurance coverage. It is often used to provide evidence of insurance coverage for personal belongings, such as when renting an apartment.
• ACORD 28 Evidence of Commercial Property Insurance: This form is used to show evidence of commercial property insurance coverage. It includes details about the property insured, policy limits, policy effective dates, and other coverage details. It is commonly requested by landlords, lenders, or other parties who have an insurable interest in the insured property.
  • Based on my experience, ACORD 27 tends to be used more often than ACORD 28 for showing evidence of commercial property coverage, because it is faster and easier to update. ACORD 28 has more sections to complete.

These are the most commonly used ACORD form COI's. It is important to select the appropriate form based on the specific requirements of the situation and consult with an insurance professional if you have any questions or need assistance in filling out the forms correctly.

#insurance #certificateofinsurance #riskmanagement