Instructions for ACORD 29 Remarks, Cancellation and Additional Interest
REMARKS
The Remarks section of the ACORD 29 is very small. Of course about the only thing you might need it for is to expand on the Description and Location of the property / properties.
If you need more room use the ACORD 101 Additional Remarks Schedule.
CANCELLATION
There is nothing for you to enter in the cancellation section. But you do need to know what it says. Basically many insured's would ask the agent to use Evidence of Insurance forms to commit to a cancellation notice beyond what the policy itself grants. This can no longer be done through an Evidence of Insurance form.
ADDITIONAL INTEREST
NAME AND ADDRESS - Enter the name and address of this insured exactly as it is shown on the policy.
LOAN NUMBER - Enter the loan number or account number for the loan this additional interest has with this insured.
TYPE OF INTEREST
Check the check box next to the appropriate description of this additional interest legal relationship with this insured. These are mutually exclusive. Check only one. The options are...
MORTGAGE
LOSS PAYEE
UNIT OWNERS MORTGAGEE ( Does not imply interest)
ADDITIONAL INSURED
BLANK next to check box. Enter a text description of the interest.
NAMED ON POLICY (Check all that apply)
Check the appropriate check box next to each policy type for which policy this Additional applies. You can check them all. The options are...
PRIMARY
EXCESS POLICY 1
EXCESS POLICY 2
I hope this series of posts have helped you learn how to complete the ACORD 29 Evidence of Flood Insurance form.
EMAIL How to Complete ACORD Forms Tutorials
We offer a daily and a weekly email tutorial series on how to complete ACORD forms. We never share this list. We never use this list for other mailings ourselves. This is just a service we hope will be of help to the community and maybe make you think kindly of us. Sign up below...
Sign Up for a Daily ACORD Forms Tutorial Email
Sign Up for a Weekly ACORD Forms Tutorial Email
No comments:
Post a Comment