ACORD 193 Open Cargo General Information and Coverage Sections
GENERAL INFORMATION
AVERAGE VALUE: Enter the average value of items being shipped after the $ sign.
After the "PER" enter a text description of what the average value applies to - example, per shipment.
PACKING: Enter a text description of the packing or packaging of the items insured.
ANNUAL GROSS SALES: Enter the annual gross sales of the items being shipped for this insured.
COVERAGE FORM: While most property insurance forms can be broken down into broad categories of Named Peril, Broad Form or All Risk, Marine insurance coverages are more likely to be unique manuscript forms custom written by each individual carrier. Work with your underwriter to be certain you use the correct wording in this space.
COVERAGES
COVERAGE TYPE: The first of the five boxes in this column is pre-filled with INTERNATIONAL TRANSIT as the coverage type. If you are not covering property shipped internationally then you should not enter any responses in the rest of the first row.
Other possible coverage types would be domestic transit, air transit, land transit, etc.
VALUATION: Indicate the type of value used. Types of value are an accounting question. Possible types of value include book value, fair market value, cost of production value, historical value, sales value, etc.
Enter the appropriate type of value for each row which has a coverage type.
ANNUAL VALUES: Enter the total annual values for this applicant for this coverage type.
LIMIT: Enter the limit of insurance coverage for each coverage type.
PER: Enter text identifying the type of unit to which this coverage limit applies. An example would be "per shipment".
DED: Deductible. Enter the deductible for the coverage type in each row.
FREE EMAIL ACORD FORMS TUTORIALS
We offer a daily or weekly email tutorial series on how to complete ACORD forms. You can sign up below. We do not distribute this list. We do not use this list for any reason other than the ACORD forms tutorials.
Sign Up for a Daily ACORD Forms Tutorial Email
Sign Up for a Weekly ACORD Forms Tutorial Email
No comments:
Post a Comment