How to Complete the ACORD 127 Business Auto Section

ACORD 127 Business Auto Section

This is the first of a series of posts on how to complete the ACROD 127 Business Auto Section.

The ACORD 127 is used with at least the ACORD 125. As a result, most of the information in the top section should flow through from your system and pre-fill.

In case you are not using a system that does that, here are the fields and what you should put in them.

AGENCY CUSTOMER ID: The number used by some older agency management systems to track your customer.

DATE (MM/DD/YYYY) The date you are completing this form.

AGENCY Your agency's name, If your agency name is a commonly used agency name - i.e. Home Insurance - you may also want to include you City and State so your underwriter will know it is you and not that bum that lives in some other town.

CARRIER This is the name of the insurance company which will be insuring this customer. This is the name on the actual policy.

NAIC CODE:  NAIC stands for the National Association of Insurance Commissioners.

Here is their website home page...

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

POLICY NUMBER: If you are sending in a new application you will not have a policy number so you will leave this blank.

If you are sending in a renewal application this will be the policy number for this policy's current term.

EFFECTIVE DATE: This would be the date you want this policy to begin.

NAMED INSURED: This is the applicant name from the ACORD 125.

I hope this helps you learn how to complete the ACORD 127 business auto section.

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