ACORD Forms
ACORD 139: Statement of Values
The ACORD 139 is the statement of values, the schedule that reports property values location by location. It exists for property programs where multiple locations share one rate: blanket or average rated policies. The carrier needs to know what sits at each location to build that rate, and the 139 is the ACORD standard way to report it.
What it is
The ACORD 139 is the statement of values, the schedule that reports property values location by location. It exists for property programs where multiple locations share one rate: blanket or average rated policies. The carrier needs to know what sits at each location to build that rate, and the 139 is the ACORD standard way to report it.
It is also one of the few ACORD forms the insured signs as a statement. The form carries a certification that all values and location information are correct to the best of the insured's knowledge and belief. The numbers on a 139 are not filler between the application and the quote. They are what the account is standing behind.
When it's used
- New business property submissions where the account wants blanket or average rated coverage across multiple locations.
- Renewals, where carriers ask for an updated statement of values to catch construction, acquisitions, and equipment changes since last year.
- Any time a carrier or wholesaler asks for an SOV. Many accept spreadsheets, especially on large schedules; the 139 is the standard form version of the same information.
Section-by-section walkthrough
Policy and insured information
Agency, carrier, policy number, the named insured, effective date, and the insured's headquarters address.
Watch for: A named insured that does not match the ACORD 125 and 140 in the same submission.
Rating basis
Whether an average rate or a specific rate is requested. This is the reason the form exists, so it sets how the carrier reads everything below it.
Watch for: Leaving it unmarked and making the underwriter infer the program structure.
Location schedule
A description and address for each location. The description should identify the building: what it is, what happens in it.
Watch for: Descriptions too thin to tell buildings apart at a multi building location. "Warehouse" three times helps nobody.
Values by location
The values reported for each location and coverage. These are the numbers the blanket limit and rate are built from.
Watch for: Values rolled forward from last year's SOV. Renovations and equipment purchases never make it on, and the schedule quietly drifts away from reality.
Exclusion indicators
Notations for exclusions that affect the rate at a location, such as sprinkler leakage or vandalism exclusions.
Applicable forms and attachments
The form numbers of completed forms and endorsements that affect rates or loss costs, plus specific rate or loss cost information for specifically rated property if known.
Watch for: Referencing attachments that are not actually attached.
Totals
The schedule total, which should reconcile with the limits requested on the property application.
Watch for: A total that disagrees with the ACORD 140. The SOV and the application have to tell the same story.
Insured signature
The insured's signature, title, and date under the statement that all values and location information are correct to the best of their knowledge and belief.
Watch for: Sending it out unsigned. The 139 is a signed statement, not just a schedule.
In Relay
ACORD Generation is live in Relay. It drafts the ACORD 139 from the client record and the documents you already have, and a person reviews every field before anything goes out. See how →
Common errors
- Values that do not reconcile with the ACORD 140 or the policy limits.
- Stale values carried forward year after year while the buildings and contents change underneath them.
- Locations added mid term that never make it onto the SOV at renewal.
- Vague building descriptions that leave the underwriter guessing which structure is which.
- Missing insured signature on a form whose whole point is a signed statement of values.
Common questions
Is an ACORD 139 the same as an SOV spreadsheet?
Same job, different format. Many carriers and wholesalers accept or even prefer a spreadsheet SOV, especially for large schedules. The 139 is the ACORD standard version. Either way, the values need to reconcile with the property application.
Who signs the ACORD 139?
The insured. The form includes a statement that all values and location information are correct to the best of their knowledge and belief, with lines for signature, title, and date. That signature is why value accuracy matters more here than on most schedules.
Can Relay build a statement of values?
Relay's Document Parsing is live and reads property schedules, appraisals, and prior SOVs into structured data. ACORD Generation drafts ACORD forms from that record, and a person reviews everything before it goes out.
Part of the Relay ACORD form library. Updated 2026-07-11. See how we source content.
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