Instructions ACORD 129 Vehicle Schedule Part 1

Instructions ACORD 129 Vehicle Schedule

The ACORD 129 Vehicle Schedule is used to list additional vehicles with the following other ACORD forms when these forms no longer have room for the list of insured vehicles:

• ACORD 127 Business Auto
• ACORD 128 Garage and Dealers
• ACORD 132 Truckers / Motor Carriers
• ACORD 143 Transportation

BASIC INFORMATION

Instructions ACORD 129 Vehicle Schedule

AGENCY CUSTOMER ID

As with all ACORD forms with more than one page enter your agency customer ID so this page will be able to find the rest of this application if somewhere, somehow in that thing we call the business cycle they get separated from each other.

DATE

This is the date you are completing this application. Enter the date as Day Day / Month Month / Year Year Year. This means you would enter Jan 1st 2015 as 01/01/2015.

AGENCY

Enter your agency's name here.

CARRIER

The insurance company underwriting this policy. This is the company listed on the DEC page of the policy.

NAIC NUMBER

NAIC stands for the National Association of Insurance Commissioners.

Here is their website home page...

http://www.naic.org/index.htm

They assign each insurance company a five digit code. You can search for any insurance company by name on their website at this page...

https://eapps.naic.org/cis/

POLICY NUMBER

Enter the policy number if one exists. If no policy number has been assigned yet enter TBD for to be determined. If you have a binder number enter that here.

EFFECTIVE DATE

This is the date this policy begins coverage.

NAMED INSURED

Enter the same as the Name on the preceding documents in this application. This is also the name which appears on the issued policy's declarations page.


VEHICLE DESCRIPTION PART 1

Instructions ACORD 129 Vehicle Schedule

VEH# - Vehicle number. Enter the numbers in sequence starting with 1.

YEAR - The model year of the vehicle. 2010, 2011, etc.

MAKE - The manufacturer's name. Chevrolet, Ford, etc.

MODEL - The model of the vehicle. F-3500 or Dodge Step Van are examples.

BODY TYPE - Examples - Dump truck, Van, Sedan

V.I.N. - Vehicle identification number. This is the serial number for the vehicle. It is on the registration card and on the vehicle dashboard in front of the steering wheel.

VEHICLE TYPE - Only one can apply. PP is private passenger. SPEC is Special - which I assume is anything not the other two options. COML is commercial.

SYM / AGE - Only private passenger vehicles have a symbol. If it is not a private passenger vehicle you will leave this blank and answer the "Cost New" question two line down.

Age is more than a little obvious and embarrassing. You have already told them the year built. But age is a cross reference point in some rating manuals. So to avoid mistakes have pity and enter the age. (This year minus the model year)

COMP / OTC SYM - Comprehensive / Other Than Collision Symbol. Only private passenger vehicles will have this.It can be an ISO symbol or some companies publish their own symbols. A symbol is a two digit numeric value used as a cross reference point in manual rating.

COLL SYM - Collision symbol. Only private passenger vehicles will have this.It can be an ISO symbol or some companies publish their own symbols. A symbol is a two digit numeric value used as a cross reference point in manual rating.

GARAGING ADDRESS

STREET (Required in KY) - the actual street address where this vehicle is normally kept overnight. In auto insurance terms "garaging" does not mean an actual building or physical garage. It only means where the car is normally kept when not in use.

CITY - The city of the garaging address.

COUNTY - The county of the garaging address.

STATE - The 2 character abbreviation for the state in which the vehicle is garaged.

ZIP - The 5 digit post office ZIP code for the where the vehicle is kept. Have I mentioned before that ZIP stands for Zone Improvement Plan? Now you can win another bar bet.

LIC STATE - The two digit abbreviation of the state in which this vehicle is licensed. Not always the same as the garaging location.

TERR - The rating Territory. While most states use ZIP codes for private passenger rating, commercial rating still has maps with territories. You will need to reference the tables of cities and counties, or a map for this information. Your agency or carrier will have access to this.

GVW / GCW - This is the gross vehicle weight or the gross combined weight - also defined as the total weight of the vehicle itself and the load it is designed to carry. This will be listed on the vehicle registration. The second item - combined weight - is the total of the GVW for a tractor unit and the trailer to which it is attached.

Private passenger vehicles do not have a GVW.

CLASS - I quote exactly the ACORD FIG form here...This is the primary industry classification code found in rating manuals for commercial vehicles as determined by: *If this is a fleet or non-fleet policy *Commercial autos by size, business use, radius of operation and whether truck or trailer type *Public autos by type of vehicle, radius or seating capacity.

A private passenger vehicle insured on a business auto policy that is not a fleet - 5 or more vehicles are needed to be a fleet - normally uses the private passenger rates and classification code, not the business auto classification code.

SIC - The secondary special industry class. This will be available to you in manuals from your agency or carrier. Or in your commercial rating software.

Class and SIC are two of those things that make agents new to commercial lines uncomfortable. But here is the nice thing about them - you set them on a vehicle and they stay there. With personal lines these are often sorted and assigned to another vehicle based on driver and rating sorting. Commercial is much more straight forward.

FACTOR - This is a rating factor. You will normally leave this blank. The Class and SIC tables carry factors. This would be the sum of those factors.

SEAT CP - This only applies to Public or Livery vehicles - cabs and buses. It stands for seating capacity.

RADIUS - These do not apply to private passenger vehicles. Enter the code from the following list...

L - Local. Up to 50 miles. Not frequently operated beyond a 50-mile radius from the point of principal garaging.

I - Intermediate. Operation beyond 50 miles, but not regularly operated beyond a 200-mile radius from the point of principal garaging.

LH - Long Haul. Regularly and frequently operated beyond a radius of 200 miles.

FARTHEST TERMINAL - Long distance, or long haul vehicles are ZONE Rated. You can find these Zones in business auto manuals or in your rating software. For long haul vehicles enter the physical address for the garaging location farthest from the normal garaging location.

COST NEW $ - This is for vehicles which do not have a symbol. This is not what was paid for this vehicle used, but what would have been paid for it new.

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