How to Complete ACORD 127 Additional Interest / Certificate Recipient

ACORD 127 Additional Interest / Certificate Recipient

Not all fields apply to all insureds. Only complete the ones which do apply. This is very important as any Additional Interest is given many of the rights of the Insured. You do not want to give these rights by error.

If you  need space for more Additional Interest use the ACORD 45 form.

INTEREST

Check the box which applies for this specific business entity.

ADDITIONAL INSURED - Good Definition HERE

EMPLOYEE AS LESSOR - If one of this business' employees is leasing property to this business

LIENHOLDER - a person who retains legal possession of a piece of property until the person to whom he/she has advanced money for use of the property has satisfactorily repaid the debt

LOSS PAYEE - Good Definition HERE

OWNER - The person or business which owns this business or item

REGISTRANT - The person or entity the vehicle is registered, or co-registered with

OTHER - List your own here


NAME ADDRESS

Enter the full name and address as they need to be shown on a certificate of insurance.


RANK

Additional Interest can have a priority of rights. A rank of 1 would indicate this Additional Interest would receive protection from the policy prior to payments being made on behalf of lower ranked Additional Interests.

CHECK BOXES - EVIDENCE / CERTIFICATE

Both can be checked.

Evidence means the Additional Interest requires an ACORD 27 or ACORD 28 Evidence of Insurance form to be issued.

Certificate means the Additional Interest requires a Certificate of Insurance to be issued.


REFERENCE  / LOAN #

Enter the loan number.


INTEREST IN ITEM NUMBER

VEHICLE - list vehicle using description and vehicle number used in the Vehicle Description which begin on page 3.

LOCATION - the normal garage location of the above listed vehicle.


I hope this has been helpful as you learn how to complete the ACORD 127 additional interest / certificate recipient form.


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