ACORD Forms
ACORD 28: Evidence of Commercial Property Insurance
The ACORD 28 is evidence of commercial property insurance, the form commercial lenders name on closing checklists and ask for again at every renewal. It documents the property coverage in force for a party with a financial interest in the property.
What it is
The ACORD 28 is evidence of commercial property insurance, the form commercial lenders name on closing checklists and ask for again at every renewal. It documents the property coverage in force for a party with a financial interest in the property.
It carries more coverage detail than any certificate: causes of loss form, limits, deductible, coinsurance, valuation basis, and business income or rental value coverage. Lenders prefer it precisely because it shows how their collateral is protected.
When it's used
- Commercial mortgage closings and refinances, where the lender requires evidence with their mortgagee or lender's loss payable designation.
- Annual evidence updates to loan servicers when the property policy renews.
- Contract of sale situations, where a buyer's or seller's interest in the property needs documenting.
Section-by-section walkthrough
Producer
Your agency's name, address, and contact information.
Insured
The legal named insured, exactly as the policy declarations read.
Watch for: Entity mismatches between the loan documents and the policy. Lenders read these closely; fix the underlying record rather than fudging the form.
Policy information
Policy number, policy type, and effective and expiration dates, including whether coverage continues until terminated.
Watch for: A prior term's policy number after renewal, which makes the evidence unmatchable on the servicer's side.
Property information
The location and what is covered there: building, business personal property, or both, with a description.
Watch for: Building-only evidence when the loan covers contents too.
Coverage information
The detail lenders scrutinize: causes of loss form, limits, deductible, coinsurance percentage, valuation method, and business income or rental value coverage.
Watch for: Checking a causes of loss form or valuation basis that does not match the policy. Replacement cost on the form and actual cash value on the policy is a problem that surfaces at claim time.
Remarks
Endorsements and conditions the standard boxes miss.
Additional interest
The requesting party and their designation: mortgagee, lender's loss payable, or contract of sale, with the loan number.
Watch for: The wrong designation. Mortgagee and lender's loss payable carry different rights, and the loan documents say which one applies.
Cancellation
The form's standard notice language. Notice rights come from the policy and its endorsements.
Authorized representative
Signature of a person authorized to issue the evidence.
In Relay
ACORD Generation is live in Relay. It drafts the ACORD 28 from the client record and the documents you already have, and a person reviews every field before anything goes out. See how →
Common errors
- Causes of loss form on the evidence does not match the policy.
- Valuation method misstated: replacement cost shown while the policy pays actual cash value.
- Business income coverage listed when the policy does not include it.
- Loan number omitted, so the servicer's tracking system never clears the requirement.
- Named insured that does not match the declarations page.
Common questions
Why did the lender reject the certificate I sent and ask for an ACORD 28?
Certificates like the ACORD 24 verify that coverage exists. Lenders need their financial interest documented and the coverage detail shown, and that is the evidence form's job. If a commercial lender is in the picture, start with the 28.
Where should the coverage detail on the 28 come from?
The current policy declarations and forms, not memory and not the loan checklist. The most expensive mistakes on this form are coverage details typed from what the lender wanted rather than what the policy says.
Can Relay draft an ACORD 28?
Yes. ACORD Generation is live in Relay. It drafts ACORD forms from the client record and documents you already have, and a person reviews every form before it goes out.
Related forms
Part of the Relay ACORD form library. Updated 2026-07-11. See how we source content.
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