Acord 138 Form Fillable – California Garage and Dealers Section
Acord Form 138
An Acord 138 form is a legal document in the insurance industry that serves as a certificate of insurance in the automotive industry. The jurisdiction of California state requires this certificate to get commercial auto liability coverage. It provides crucial information about liability coverage, endorsements, and limits.
It simplifies the insurance process for all involved parties in the automotive sectors, such as auto repair shops, auto dealerships, towing companies, parking garages, and body shops. You can obtain this fillable form by clicking the download button here.
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Why is the ACORD 138 Fillable Form Important in California?
California is a hub for the automotive sector, with millions of vehicles in the United States. This form is essential for regulatory purposes to reduce the financial loss in case of accident or property damage.
State Compliance
This form fulfills California’s insurance requirements, especially for dealerships. However, these dealers face the most liability risks due to the management of extensive inventories.
Liability Protection
The garage and dealership business is more likely to be sued due to a customer’s injury or property damage. Accurate information on this form helps reduce financial risks.
Streamlined Communication
This form helps insurers and clients exchange information about coverage policies.
Proof of Coverage
The insurance industry in California often requires proof of insurance from dealerships and repair shops for leasing, contracts, or acquiring business licenses. The concise information on this form provides the required documents.
How To Get Fillable ACORD 138 California Garage and Dealers Section Form?
Contact Insurance Agent
Many states in the U.S. have various insurance requirements. You must contact your state’s (California) insurance provider and arrange a meeting. Gathering comprehensive information about the business and employees is crucial before a meeting. Provide all the required information to the agent, and he/she will help you by providing this authenticated document.
Official Website
Fortunately, all of Acord’s insurance forms are available on its official website. You must visit the site, search for this document, and click the download button to save it immediately. Moreover, you can fill it out online and get a print quickly.
Third-Party Website
You can also obtain this legal document from many third-party websites, like Forms Dude. It is crucial to visit the homepage by typing www.formsdude.com in any browser. Then, see the “Insurance Forms” category page or type the form’s name (Acord 138 Form) in the search bar. Fortunately, you can fill it out here and get an instant printout of this certificate or click the download button to save it quickly.
Step-by-Step Instructions for Filling Out the Blank Acord 138 Form
You must apply these instructions during the filling out this form for accurate coverage:
1- Agency Information
You must write the agency’s name, policy number, effective date, insurer’s name, carrier’s name, and NAIC (National Association for Cooperative Operations Research and Development) number.
2- Coverage/Limits
In this section, write the covered auto symbols and limits of the related coverage types.
3- Physical Damage
In this section, check the covered auto symbols, write the location number, amount of each limit, deductible amount per auto, and maximum deduction per loss.
4- Garage Keepers
Choose the type and write the location number, amount of limit, number of autos, deductible amount per auto, and maximum deduction per loss.
5- Endorsements/Remarks
In this section, write the endorsement risk details and additional remarks for maximum policy coverage. Note: For further remarks, attach Acord 101.
6- Signature
In the last section, get the producer’s and the applicant’s signature with the date under the statement. Also, write the national producer number.
Additional Details to Consider While Filling Out Acord 138 Form
These additional details will help you with enhanced insurance coverage and reduce the financial risks:
Inaccurate Vehicle Description
You must write detailed information about all vehicles associated with the business. Any mislabeling or omission may cause delays in the process or cancellation of the claim.
Underestimating Coverage Needs
It is crucial to meet the liability coverage requirements to avoid costly lawsuits.
Overlooking Endorsements
Including the essential endorsements in California’s legal environment is crucial to avoid gaps in coverage.
FAQs
What is the Acord 138 Form?
It is a crucial document in California to ensure that the automotive industry, including garages and dealerships, has enough commercial auto insurance coverage.
What is Garage Liability Coverage?
This liability protects businesses from claims related to accidents, injuries, or property damage due to their operations.
What are the Covered Autos in the Acord 138?
All owned, hired, or non-owned vehicles included in the policy are covered autos.
What are California-Specific Endorsements for Acord 138?
The endorsement of pollution liability, earthquake damage, or wildfire-related losses is crucial for California businesses.