The ACORD 140 is the property section supplemental for commercial property submissions. It is completed alongside the ACORD 125 and captures the detailed building and location information that underwriters need to evaluate property risk: construction type, year built, protection class, building value, and coverage options. Correctly completing the ACORD 140 is essential for property submissions that quote without additional information requests.
Location and premises description
Full street address for each insured location. If the business operates from multiple locations, each location gets its own entry. Multi-location accounts where only the primary location is listed are a common source of AI requests — underwriters need to rate each location separately.
Construction type
ISO construction type codes: Frame (1), Joisted Masonry (2), Non-Combustible (3), Masonry Non-Combustible (4), Modified Fire Resistive (5), Fire Resistive (6). Frame is the highest-rated (most hazardous) and Fire Resistive the lowest. Entering the wrong construction type — particularly Frame vs. Joisted Masonry for older commercial buildings — produces incorrect rates and can void coverage if the construction represents a material underwriting factor.
Year built and last update dates
The year the building was constructed, plus the year of the most recent roof, plumbing, electrical, and HVAC updates. Buildings older than 30–40 years with no documented system updates are subject to surcharge or declined by many carriers. These dates must come directly from the insured — do not leave them blank or estimate.
Protection class
ISO Protection Class (1–10, with 10 being the least protected) based on proximity to a responding fire station and the water supply. Protection class is one of the most significant property rating factors. It should be verified using the ISO PPC lookup tool — not estimated based on the general area.
Building limit / Replacement cost value
The replacement cost of the building (not market value, not assessed value, not purchase price). Replacement cost is the cost to rebuild the structure from the ground up at current construction prices. Underinsurance — building limit below actual replacement cost — is one of the most common errors on property submissions and results in coinsurance penalties at the time of a large loss.
Coverage options and deductibles
The requested coverage form (Causes of Loss — Basic, Broad, or Special), the building and business personal property deductibles, and any optional coverages (earthquake, flood, equipment breakdown, business income) being requested. Each optional coverage has its own underwriting criteria.
✕Replacement cost value left blank or listed as market value
✕Protection class not verified — entered as "unknown" or based on assumption
✕Construction type estimated rather than confirmed from building records
✕System update dates blank on buildings older than 25 years
✕Multiple locations with only primary location listed on the form
✕Business income limit not completed when the business has employees and a physical location