How to Complete the ACORD 146 Scheduled Equipment Section
Page 2 of the ACORD 146 is nothing but a listing of scheduled equipment. There is room to list 15 items. If you need more room, just make more copies of this page of this form.
At the top of the page is a global question on Coinsurance. Normally this will be 80%, 90% or 100%.
This set of questions repeats 15 times.
# - Enter a unique number for each item. Start with 1 and go 2,3, etc unless you have a good reason not to do so.
TYPE - Describe the general type of equipment.
DESCRIPTION - Explain how the equipment is used.
ID # / SERIAL NO: - if the equipment has an ID number or serial number enter that here. Many companies use metal tags or RFID chips to track equipment. If there is no other ID number, use the number from the tag or chip.
NEW/USED - was this item purchased new or used.
DATE PURCHASED - month and year is good. Year if it has been around a while.
MANUFACTURER - the name of the company which built this piece of equipment.
MODEL - if there is a model for this equipment, similar to models for cars - i.e. Ford Mustang - enter that.
MODEL YEAR - what year was this equipment built?
CAPACITY - similar to gross vehicle weight. For instance a backhoe has a rated capacity for its bucket.
AMOUNT OF INSURANCE $ - the amount for which you are insuring this specific equipment. Policies can be written to cover ACV - actual cash value, stated amounts, replacement cost, etc. You need to insure the item for an amount based on the type of policy coverage you are providing.
I hope this helps you learn how to complete the ACORD 146 scheduled equipment section.
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