What is the ACORD form?
ACORD stands for Association for Cooperative Operations Research and Development. It is an international organization that provides standardized certificates and forms. The organization has a stated goal of increasing data exchange and more efficient workflows via standardized forms across the insurance industry. ACORD forms are used by about 90% of insurance industry professionals.
The ACORD certificate of liability insurance is just one page, containing all the relevant information regarding your insurance policy. The ACORD certificate of liability insurance (titled the ACORD 25) form can be almost as important as your work contract with a client.
Standardized for Ease
Because the form is standardized, you will not need to get an entirely blank ACORD insurance form for each new client. Instead, your insurance agent just needs to add a few specifics for each client and job.
It also leaves little room for miscommunication between you, your agent and your client regarding your insurance policy. The form has everything laid out clearly, with checkboxes and pre-printed and labeled areas for important details; you can’t miss anything.
Take note that the form gets updated periodically. It’s best to check with your insurance agent when renewing your policy for any updated versions.
How agents fill in the ACORD 25
Once you have taken out an insurance policy with your insurance agent, you will be able to ask your agent to fill out a new form for each new client. A sample ACORD form can be found online. Your agent will take one of the readily available fillable ACORD 25 forms online and complete it for you.
With the certificate of liability insurance, your client can also be covered under your insurance policy. Your client will need to request that you add him as the additional insured. What this means that in the event of any claims, your client will also be covered.
At Jones, we provide you with the ACORD certificate of liability insurance for just $25 within minutes of signing up to us. You can then pass this certificate of liability insurance onto your client as proof of your insurance policy.
What is the ACORD Cancellation Form?
Once you’ve signed up for a policy, how can you cancel it? The ACORD cancellation form 35 is like an undo button for the ACORD 25. This form is formal evidence of your instructions to your insurer to cancel your policy.
When you want to cancel your policy, tell your agent that you want to have the ACORD cancellation request form or policy release form completed. Always ensure that the form is completed properly before settling your account with your insurer.
You can get a fillable ACORD cancellation form online.
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