ACORD 81 Attachments and Schedule of Property Instructions

ACORD 81 Attachments and Schedule of Property Section

AGENCY CUSTOMER ID

ACORD 81 ID Instructions

Enter your customers identification number assigned by your agency or agency management system.


ATTACHMENTS

ACORD 81 Attachments Instructions

Check any and all check boxes which describe documents, spreadsheet, pictures, etc which you are attaching to this ACORD 81 form.

• STATE SUPPLEMENTS
• PHOTOGRAPH
• APPRAISAL
• BILL OF  SALE
• PROTECTIVE DEVICE CERTIFICATION
• OTHER - three boxes left blank. Fill in your own description

SCHEDULE OF PROPERTY

ACORD 81 Schedule of Property Instructions

There are 24 rows on this page for entering specific items to be insured. You will repeat each of the following steps for each row you have an item in.

If you need more space than this I recommend you complete another ACORD 81 forms or set up a spreadsheet with exactly these columns and attache the spreadsheet to this master document.


SCHD #

Schedule number. Enter the number asssociated with the property class from page 1 of this form. For example, if this is a Fine Arts item look back at the PROPERTY CLASS listing on page one. You will see FINE ARTS listed as SCH# 3. In this instance you would enter a 3 in this box on page 3.


ITEM #

This is the item number you - the producer - assign to this item.

DESCRIPTION

Enter a full and complete descriptions including serial numbers. You are trying to give the claims folks something to work with in identifying this item.

FORMAL APPRAISAL ? (Y/N)

If you have a formal appraisal enter a Y for Yes and attach a copy of that appraisal to this document when you send it to your underwriter.

If not, enter N for No.

VALUATION DATE (Purchase or Appraisal)

Enter the most recent date of valuation or appraisal.

AMOUNT OF INSURANCE

Enter the amount of insurance you want on this specific item. Remember any co-insurance clauses. If you have an item valued at $100,000 and this policy requires 80% co-insurance, you certainly do not want to only insure the item for $5,000. Likewise if the Valuation is $100,000 the insurance carrier is unlikely to insure this item for $1,000,000.


I hope these instructions for the ACORD 81 have helped you learn how to complete an ACORD 81 form.


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