How to Complete the ACORD 146 Equipment Storage Section

ACORD 146 Equipment Storage and Unscheduled Equipment Section

EQUIPMENT STORAGE

This section is for locations as a whole. Two things about this...

1 - Nowhere does it ask the location address to correspond with the location number. You will be wise to add that information. Since this form does not have a Remarks section, I would use the ACORD 101 Additional Remarks Section.

2 - There is only room for three locations. If you need more room use the ACORD 101.

LOC# - Enter the location numbers sequentially starting with 1, 2 then 3, etc.

MO. IN STORAGE - Months in Storage. If less than one month enter one. Round up all partial months.

MAXIMUM VALUE

IN BUILDING - Enter the dollar amount of the maximum value kept in the building at this location.

OUTSIDE - Enter the dollar amount of the maximum value kept outside at this location.


TYPE OF SECURITY - Describe the type of security measures used at this location. Guards, Alarms, Cameras, Dogs, etc.


UNSCHEDULED EQUIPMENT

DESCRIPTION - This section is used to lists groups of similar items you do not list on the schedule on page 2 of this form. Normally these would be lower value items such as hand tools.

MAXIMUM ITEM - The maximum value of any individual item in the groups listed in the Description above. For instance, a really nice hammer might be $75.

AMT OF INSURANCE - Amount of insurance. The total amount of insurance on all items listed in the groups. So 100 hammers at $50 each - $5,000 of insurance.

% COINS - Percentage of coinsurance to apply to this coverage. In this case I would suggest 100%.


I hope this has helped you learn how to complete the ACORD 146 Equipment Storage Section


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