ACORD FormsCommercial Property Section
ACORD 140 — Commercial Property Section
The ACORD 140 is the section-specific supplement for commercial property coverage. It is submitted alongside the ACORD 125 and captures the building characteristics, property values, and coverage selections that property underwriters need to evaluate the risk. Property submissions are among the most data-intensive in commercial lines because every location must be individually scheduled.
When you need the ACORD 140
The ACORD 140 is required any time a business needs commercial property coverage — whether for a building they own, business personal property inside a leased space, or both. It is used for standalone commercial property policies, for the property section of a BOP, and when adding property coverage to an existing commercial account. Real estate investors, retailers, manufacturers, offices, and any business with significant owned equipment or inventory will need the ACORD 140.
What the ACORD 140 covers
Location information
- Street address of each insured location
- Year built and building construction type (frame, masonry, fire-resistive)
- Number of stories
- Square footage
- Occupancy type — how the building is used
Coverage and values
- Building replacement cost value
- Business personal property (BPP) value
- Business income and extra expense limits
- Equipment breakdown coverage if applicable
- Deductible amount and type (ACV vs. replacement cost)
Building characteristics
- Roof age, type, and material
- Heating system type and age
- Plumbing and electrical system age
- Sprinkler system — wet, dry, or none
- Alarm system type and monitoring status
Protective devices
- Central station fire alarm
- Burglar alarm type and monitoring
- Sprinkler system — percentage of building covered
- Security cameras and access control
Lease and ownership
- Whether the insured owns or leases the building
- If leased: tenant improvements and betterments value
- Whether the building owner requires additional insured status
- Mortgagee name and address for owned buildings
Common mistakes on the ACORD 140
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Undervaluing building replacement cost
One of the most common property mistakes. Replacement cost is not market value. It is the cost to rebuild from the ground up at today's construction rates — typically significantly higher than market value.
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Wrong construction class
Frame, joisted masonry, masonry noncombustible, and fire-resistive all carry different rates. Misclassifying construction type causes incorrect premium and potential coverage issues after a loss.
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Missing roof information
Roof age and material are major rating factors. Many agents leave these fields blank. Carriers will either decline or use an unfavorable assumption when information is missing.
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Not listing all locations
Every location where business property is kept — including storage units, off-site warehouses, and leased spaces — needs to be scheduled on the ACORD 140.
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Forgetting business income coverage
Business income (loss of income after a covered loss) and extra expense coverage are often overlooked. These are frequently more important than the building value for keeping a business alive after a major claim.
How AgencyAssist handles the ACORD 140
Property submissions require collecting building-specific data that clients often have to look up — year built, construction type, roof age, square footage. The intake process typically involves multiple conversations and follow-ups before the ACORD 140 can be completed.
AgencyAssist collects all property information through a plain-English intake link. Clients are guided through each location with simple questions about their building and property values. The answers are mapped to the ACORD 140 automatically, generating a completed property section alongside the ACORD 125 and any other required supplements — all from a single client conversation.
Complete property submissions without the back-and-forth
One intake link collects all building and property data and generates a completed ACORD 140 automatically.