Acord 146 is a specialized insurance form used to capture detailed information about contractors equipment and related movable property exposures.
It provides a structured, industry-recognized format for summarizing equipment types, values, storage practices, and coverage terms so that stakeholders share a consistent view of the risk.
Organizations across insurance, lending, and equipment finance rely on Acord 146 to keep underwriting data, policy documentation, and collateral records aligned, traceable, and practical to work with at scale.
What Is Acord 146?
Acord 146 is a standardized form used to document and communicate key details of commercial insurance coverage, most commonly in areas such as commercial liability or umbrella policies.
It functions as a common reference point between brokers, carriers, lenders, certificate holders, and other stakeholders who need a clear, uniform snapshot of an organization's risk profile and coverage terms.
Within workflows that span commercial insurance, lending, equipment finance, claims, and professional services, Acord 146 helps align underwriting data, coverage specifications, and evidence-of-insurance requirements in a single, industry-accepted format.
Because it is widely recognized across the market, the form reduces friction between systems and organizations, supports accurate risk assessment, and makes sure critical coverage information is presented in a way that is both consistent and quickly understood.
When Is the Acord 146 Used? (Common Use Cases)
Acord 146 is typically used whenever an organization needs a standardized way to request or document changes to an existing insurance arrangement, such as adding or modifying coverages, updating insured details, or clarifying exposures for a specific risk.
It commonly appears in workflows involving policy endorsements, mid-term adjustments, renewal reviews, and account restructures where carriers, MGAs, and brokers must align on the same set of underwriting facts.
Underwriters rely on the form during risk evaluation to compare requested changes against the current policy, support pricing decisions, and maintain a clear audit trail that ties each transaction to documented information.
Claims teams may reference Acord 146 when a loss exposes discrepancies in scheduled items or coverage terms, using the form as part of post-loss file review and corrective updates to the policy record.
Credit and compliance functions use the standardized data in Acord 146 to perform credit checks, validate regulatory requirements, and make sure documentation is consistent across accounts, which supports internal controls and external examinations.
Within broader case intake and account management workflows, the form acts as a central communication tool that keeps submissions complete, comparable, and traceable across systems and stakeholders.
What Is Included in Acord 146?
Acord 146 is structured around the information needed to underwrite and document contractors equipment and similar movable property.
The Equipment floater exposures segment organizes fields for describing the types of equipment at risk, their usage, and operational hazards, so underwriters can gauge frequency and severity of potential losses.
Equipment storage details capture where items are kept when not in use, including typical locations, security measures, and whether storage is indoors or outdoors, which directly affects vulnerability to theft and weather.
A scheduled equipment list provides a structured schedule for individually listed items, with descriptive fields for identification, values, and sometimes key characteristics, creating a clear record of specifically insured property.
Unscheduled equipment limits collect the blanket amount of coverage for lower value or miscellaneous items, helping align premium and coverage for property that is not itemized.
Coverage and coinsurance details gather limits, deductibles, and any coinsurance requirements, making sure the policy terms match the exposure profile indicated elsewhere on the form.
General underwriting questions collect supplemental disclosures about operations and prior losses, while Additional interest information and Remarks allow listing other parties and clarifying any unusual exposures or special arrangements.
Why Is Acord 146 Important?
Acord 146 is important because it organizes complex liability schedule information into a single, structured format that different stakeholders can interpret the same way.
By collecting standardized details about coverages, limits, exposures, and locations, the form helps make sure nothing critical is omitted, which reduces backtracking and delays in review cycles.
This consistency promotes cleaner data flows between agents, brokers, carriers, lenders, and professional services teams, cutting down on manual re-entry and the risk of conflicting information.
It also supports compliance and audit-readiness, since required fields and disclosures are captured in a predictable layout that can be referenced and verified quickly.
As a result, underwriters and decision-makers can assess risk more confidently and respond faster, relying on the completeness and reliability of the information recorded on Acord 146.
How Can Heron Help With Acord 146?
Handling Acord 146 forms often slows teams down, especially when submissions arrive through multiple channels and require manual triage.
Heron is built to remove this friction for financial and professional services organizations by automating the full journey of each form.
From the moment an Acord 146 arrives via email, broker portal, or secure upload, Heron automatically ingests the document and routes it into a unified pipeline.
The platform then recognizes that the document is an Acord 146, distinguishes it from other Acord types or attachments, and applies the correct extraction logic.
Heron captures all relevant data points on schedules of hazards and locations, including limits, exposures, coverages, and key identifiers needed for underwriting and policy servicing.
It runs automated checks to make sure critical sections are present, fields are internally consistent, and values align with business rules before the data moves downstream.
If something is missing or contradictory, Heron flags it immediately so teams can resolve issues early instead of discovering errors later in the process.
Once validated, Heron syncs structured information directly into underwriting workbenches, policy admin systems, CRMs, or analytics environments in a standardized format.
This removes repetitive keying and copy-paste work for operations teams and analysts who previously had to interpret each schedule line by line.
By delivering clean, organized data as soon as the Acord 146 arrives, Heron shortens cycle times, supports faster decisions, and reduces operational noise across underwriting, operations, and client service.
FAQs About Acord 146
What is the primary purpose of the Acord 146 equipment schedule form?
The Acord 146 is used to list specific items of equipment that are scheduled under a commercial property or inland marine policy. It organizes key details like item descriptions, serial numbers, values, and locations so carriers and lenders have a precise record of what is insured.
Who typically completes the Acord 146 and how is it used in daily workflows?
The Acord 146 is usually prepared by the retail agent or broker, often with data supplied by risk managers, equipment finance teams, or asset managers. Underwriters, lenders, and lessors then rely on the schedule to verify coverage terms, confirm asset values, and support loan or lease documentation.
Why do lenders and equipment finance companies often require an Acord 146?
Lenders and equipment finance providers use the Acord 146 to confirm that financed or leased assets are specifically scheduled and insured to the appropriate values. The form gives them a standardized view of collateral so credit, operations, and portfolio teams can align insurance requirements with loan or lease conditions.
How is the Acord 146 typically submitted and processed by carriers and service providers?
Most organizations submit the Acord 146 electronically, either as a fillable PDF, an upload through an agency management system, or a data feed into a carrier or lender portal. Once received, underwriting, policy services, and back-office teams use the schedule to reconcile item counts, match locations, and update policy records and certificates.
