ACORD 140: Property Section
ACORD 140 is the Property Section of a commercial insurance application. It organizes locations, buildings, requested insurance, construction, occupancy, and protection details.
What it is
ACORD 140 is the Property Section of a commercial insurance application. It organizes locations, buildings, requested insurance, construction, occupancy, and protection details.
Build it from the location schedule, current coverage, value information, and confirmed building facts. A readable submission distinguishes each building and each subject of insurance instead of compressing the whole account into one entry.
When it's used
- A market requests a commercial property section.
- A property schedule is being quoted or remarketed.
- Changes to buildings, contents, occupancy, or values need review.
Section-by-section walkthrough
Identification
Agency, carrier, named insured, and effective dates, consistent with the ACORD 125.
Review check: Match the commercial applicant section.
Premises information
Premises and building numbers with the street address for each. Everything else on the form keys to these numbers, and multi-building locations get an entry per building.
Review check: Keep premises and building identifiers consistent.
Subject of insurance
What is being covered at each building: the building itself, business personal property, personal property of others, and the limit requested for each subject.
Review check: Separate building, contents, and other property interests.
Causes of loss and valuation
The requested causes-of-loss and valuation information, with any agreed-value or related option identified separately as the form requires.
Review check: Confirm the requested coverage and valuation terms.
Coinsurance and deductibles
The coinsurance and deductibles requested for the applicable coverage.
Review check: Record coinsurance and deductibles intentionally.
Construction details
Construction class, year built, number of stories, total area, and roofing. Construction uses the standard classes, from frame and joisted masonry up through non-combustible, masonry non-combustible, modified fire resistive, and fire resistive.
Review check: Verify the construction classification and source.
Building improvements
Documented updates to wiring, plumbing, heating, and roofing, with the years completed.
Review check: Use documented improvement dates.
Fire and burglar protection
Protection class, distance to hydrant and fire station, sprinkler coverage, and alarm detail: type, and who the alarm reports to.
Review check: Confirm the actual protection and monitoring details.
Occupancy and exposures
Who occupies the building, what they do there, and what operates next door. Neighboring exposures matter for fire rating.
Review check: Describe occupancy and surrounding exposures.
Additional coverages and options
Optional property coverages requested at each location, like debris removal or ordinance or law.
Review check: Keep requested options separate from existing coverage.
Additional interests and remarks
Mortgagees and loss payees by building, plus remarks for anything that needs explaining: vacancy, renovation plans, unusual occupancies.
Review check: Identify supported remarks and unresolved questions.
In Relay
Relay can prepare supported ACORD drafts from the documents you provide. This reference guide explains ACORD 140; it is not a promise that this form or edition is available in your workspace. Check the supported form, then review the fields and missing answers before use. See how →
Common errors
- Mixing buildings with different construction or occupancy.
- Using a value without its basis or source.
- Assuming requested optional coverage is already included.
Common questions
How does ACORD 140 relate to a statement of values?
The property section records the requested coverage and building details. A statement of values supplies a consistent location and value schedule. Reconcile the two where the market requests both.
Where should construction and protection answers come from?
Use reliable building records, inspections, and confirmed client information. If a rating classification or protection detail is uncertain, ask the market rather than guessing.
Related forms
Form references
- ACORD Forms Portal: current forms and authorized access
- ACORD-authored Forms Index, May 2024 (historical form names)
Confirm the form edition and requirements with the market receiving the submission.
Part of the Relay ACORD form library. Updated 2026-07-11. See how we source content.
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