How to Complete the ACORD 126 Additional Interest and Certificate Recipient Section

ACORD 126 Additional Interest and Certificate Recipient

If you have more than one Additional Interest or Certificate Recipient use the ACORD 45 form to list the others and attach that form to your application.

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.

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

MORTGAGEE - Good Discussion HERE

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 BOX - EVIDENCE / CERTIFICATE 

ACORD advises you to put a check in the box if the Additional Interest Requires a Certificate. I suppose you need to add a Remark as to whether that is a Certificate or an Evidence of Insurance form.

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

REFERENCE  / LOAN #

Enter the loan number.

INTEREST IN ITEM NUMBER

LOCATION, BUILDING, ITEM, ITEM DESCRIPTION

The number to enter here is the number referencing this at other places in this application. For instance, Location refers to the location number listed in the PREMISES INFORMATION section at the top of this page.

ITEM DESCRIPTION

If there is no other reference number in this form or other forms which are part of this application, enter a description.


I hope this helps you learn how to complete the ACORD 126 Additional Interest and Certificate Recipient Section.