Acord 143 Form Fillable (PDF) – Transportation Section
Acord Form 143
An Acord 143 form is a legal document developed under the Association for Cooperative Operations Research and Development (ACORD) policy. It is used in the insurance industry to collect information to streamline the application process.
Transportation-related businesses, such as freight handlers, trucking companies, and delivery services, require this form to determine the vehicle’s coverage when used in the operations. You can quickly get this form by clicking the download button here. In addition, you will understand the importance of this form, how to fill it out accurately, and additional details to reduce financial loss.
36110+ Downloads
Why is the ACORD 143 Fillable Form Important?
This form plays a vital role in the transportation business and insurance coverage. The following key objectives will help you understand its importance.
Accurate Risk Assessment
This form helps insurers evaluate the risk associated with cargo, vehicles, and drivers. It also allows insurers to customise policies and provide accurate protection.
Enhances Coverage Accuracy
Transportation businesses face risks associated with accidents, liability, and lost or damaged cargo. This form verifies the coverage is aligned with the operations.
Protects Business Operations
Comprehensive insurance coverage protects transportation businesses from accidents, cargo loss, and liability claims to reduce financial loss. It helps the companies recover from incidents and restart operational work.
Simplifies the Claim Process
The accurate record of the incident validates the claim process. Enhanced communication also distinguishes disputes between insurers and policyholders.
How To Obtain a Fillable ACORD 143 Transportation Section Form
Contact Insurance Agent
Most insurance companies in the United States offer transportation section forms. You must consult your insurance agent and request that this form be provided. Gather all essential information about the business, assets, and liabilities. Provide all indispensable information for the agent and ask for help to complete this form.
Official Website
You can get this form from the Acord’s official website. Visit the homepage and write the form’s number or name in the search bar. Fill out the required form online and get an instant printout. Also, click the download button to save it on your device immediately.
Third-Party Website
Forms Dude offer a vast collection of insurance forms—type www.formsdude.com in any browser to visit the homepage. Write the form’s name (Acord 143 Form) in the search bar or visit the “Insurance Forms” category to get the fillable form. Click the download button to save it, or fill it here and click the print button for instant printout.
Instructions for Filling Out the Blank Acord 143 Form
You must follow these guidelines to fill out this form accurately:
1- Agency Information
You must write the agency’s information, carrier’s information, applicant’s name, policy number, NAIC (National Association of Insurance Commissioners) number, and effective date.
2- Interest/Type
In this section, mention about the applicant and the type of transportation.
3- Transportation – Operations
In this section, write the property shipped information, including the point of origin and destination, territory, and annual gross sales amount. Also, write the annual values, average value, limits of liability, and bill of lading for the conveyance used.
4- Vehicle Schedule
In this section, write the comprehensive details about the vehicle, including vehicle number, year, make, model, body type, V.I.N., purchasing date, and radius of operations for each insured vehicle. Note: for additional vehicle schedule, attach Acord 129, and for driver information schedule, attach Acord 163.
5- General Information
In this section, answer “Yes” or “No” questions. Also, explain all “Yes” responses.
6- Remarks
Write a detailed description of the policy and coverage. Also, attach Acord 101 for additional remarks if more space is required.
7- Motor Truck Cargo Legal Liability – Operations
In this section, write the information of property hauled, territory, gross revenues, and deductibles.
8- Terminals
In this section, write the location number, address, amount of average value maximum value, and limit of liability.
9- General Information
Write “Yes” or “No” in this section and explain the required questions.
10- Signature
Lastly, write the producer’s name, state producer license number (Florida), and national producer license number. Also, get the applicant’s and the producer’s signatures with the date.
Additional Details to Consider While Filling Out Acord 143 Form
These details play an essential role in securing the transportation companies from unseen events:
Providing Incomplete Information
Please provide complete and accurate information when filling out this form to avoid delays or cancellations.
Underestimating Risks
Disclose high-risk cargo and long-distance routes to evaluate the actual risk associated with the operation. Failure to provide such information may result in insufficient coverage.
Neglecting Updates
If a vehicle or driver is added or removed, ensure an updated coverage form to mitigate the financial loss.
FAQs
What is the Acord 143 Form?
The transport section agreement form is a standard document in the insurance industry that provides appropriate coverage for commercial vehicles and transportation-related operations.
What Information is Required in the Transportation Section?
It contains enhanced details about cargo, safety measures, vehicles, routes, drivers, and prior insurance history.
Why is Vehicle Information Important on the Acord 143?
The vehicle-related information provided on this form, such as model, make, VIN, year, and usage, helps insurers to evaluate associated risks.
How Does Driver’s Information Impact Insurance Coverage?
Detailed information about the driver’s experience, assignment, and record helps insurers to calculate premiums.