ACORD 28

What the ACORD 28 is for

The ACORD 28 does the same job as the ACORD 27, for commercial property. It has room for the coverage detail a commercial policy carries that a simpler evidence form does not: business income, extra expense, blanket arrangements and separate causes-of-loss treatment.

In practice the choice between the 27 and the 28 is often made by the requester. Lender tracking services frequently specify which form they will accept, and a form that does not match the request comes straight back.

What it collects

Described in our own words, block by block. This is a summary of the information the form gathers, not a reproduction of the form itself.

Producer, insured and company

The issuing agency, the named insured, and the carrier with the policy number and term dates.

Property information

Location and building identification for the property being evidenced.

Coverage information

Coverages carried, amounts, deductibles, causes of loss and any blanket arrangement.

Business income and extra expense

Where those coverages are carried, the limit and basis are reported here rather than being left to the remarks block.

Cancellation, mortgagee and additional interest

The notice statement and the lender's interest as recorded on the policy.

Check before it leaves the agency

The defects that cause trouble later are nearly always the same handful. Run these before the form goes out.

• Business income is reported on the right basis. An actual-loss-sustained form and a stated-limit form are different products and a lender may be checking for one specifically.
• Blanket coverage is described as blanket, with the blanket limit, rather than allocated to a single building.
• Any separate wind, hail or named-storm deductible is shown, and expressed the way the policy expresses it, whether as a percentage or a flat amount.
• The mortgagee clause and loan number match the lender's own instruction exactly.
• The location matches the collateral, and the term dates cover the period the lender is asking about.

What the ACORD 28 does not do

• It does not amend the policy or record a lender's interest on it.
• It is not a certificate of liability insurance, so it will not satisfy a contract asking for evidence of general liability.

Which edition?

ACORD revises its forms, and the edition date is printed in the bottom-left corner beside the form number. This page deliberately does not name an edition, because a hard-coded one goes stale and a stale edition on a reference page is worse than none. Produce the form from your own management system, which will give you the current version, and read the corner if a carrier or a contract has asked for a specific one.

At renewal

BindCheck reads a bound renewal against the prior policy and reports every form, limit, deductible and endorsement that changed, with each finding cited to the page it came from. That matters for this form because what you put on an ACORD is only correct for as long as the policy behind it is unchanged: a certificate, an evidence form or a schedule of interests prepared from last term's facts is a defect nobody sees until the party relying on it needs it.

Related forms