ACORD 175 Form Fillable – Commercial Policy Change Request

Why is the ACORD 175 Fillable Form Important?

The modification in the insurance policy occurs regularly and quick updated information helps to get the proof of full coverage. Moreover, it has valuable importance in the following scenarios.

Standardization

This form allows all parties to understand and participate in the request process. It streamlines the communication between insurers and policyholders to adjust policy limits, change coverage types, and add or remove insured properties.

Comprehensive Design

It has a comprehensive design to cover all the relevant information that is enough during the change request process. It also helps to change the business name and address, modify the risk classification, and add endorsements for more protection.

Clarity

It allows smooth data entry with consistency and accuracy. Moreover, it simplifies for requesting cancellation or termination of the policy.

How To Get Fillable ACORD 175 Commercial Policy Change Request Form?

Contact Insurance Agent

You must contact your insurance producer or agent and ask to provide the commercial policy change form. Provide him/her with the essential details for coverage. He/she will create the change form under the ACORD policy. Ensure all the fields are properly filled before submission.

Official Website

Acord’s official website offers insurance forms to streamline the communication between insurers and policyholders. You must visit the website and search policy change form. Then, click the download or print button at the top.

Third-Party Website

Some third-party websites such as Forms Dude, allow users to obtain insurance forms quickly. Type www.formsdude.com in any browser and press enter to visit the homepage. Then, go to the “Insurance Forms” page, type the form’s name (Acord 175 Form) and click the download button to save on your device.

Step-by-Step Instructions for Filling Out the Blank Acord 175 Form

This form is crucial, and you can fill it out accurately by following the given instructions:

1- Agency Information

Write the agency’s name, phone number, fax number, email address, code, subcode, and customer ID number.

2- Insurer Information

In this section, write the insurer’s full name, mailing address, city name, state name, and city’s postal code.

3- Company Information

In this section, write the company’s name, policy type, policy number, NAIC (National Association of Insurance Commissioners) number, policy inception date, effective date, and expiration date, 

4- Premises Information

In this section, write the location number, building number, street, city, state, postal code, city limit, and interest. Also, check the box for add, change, or delete of premises.

5- Nature of Business

Write the location number, building number, and description of the nature of the business for that premises.

6- Auto-Vehicle Description/Limit

Write the enhanced details of the vehicles such as vehicle number, make, model, year, VIN, vehicle type, body type, garage mailing address, and other essential information.

7- Driver Information

In this section, write the driver’s number, name, address, gender, date of birth, experience, license number, hiring date, and vehicle number (under his supervision).

8- Workers Compensation Rating Information

In this section, write the type of change, state, LOC, class code, description code, duties, number of employees (Full-time/Part-time), and annual remuneration.

9- Property/Inland Marine Premises Information

Write all the general information about the inland marine premises such as subject name, amount, deductible, fire station’s code, its distance, construction type, total area, right, left, and rare exposure distance, and the alarm’s details.

10- Inland Marine Schedule Equipment

In this section, write the equipment number, year, description, serial number, date of purchase, new or used, and amount of insurance.

11- General Liability Limits

In this section, you must write the amount of mentioned liabilities.

12- General Liability Schedule of Hazards

In this section, write the type of change, location number, classification, class code, and premium basis.

13- Umbrella

In this section, to change the request write the amount for the limit of liability and retained limit.

14- Additional Interest

You must write the type of interest, description, and name and address of the insurer.

15- Remarks

You must write any specific remarks about the policy to add, remove, or change coverage. Also, mention the criteria for cancellation of the policy.

16- Signature

In this section, get the signature of the insurer with the date. Also, get the producer’s signature and write the national producer’s number.

FAQs

What is the Acord 175 Form Used for?

It is a standardized legal form known as the commercial policy change request. It is often used in the insurance industry for requesting any change in an active policy such as adding endorsement, modifying coverage, and updating insured information.

What Information is Required to Complete the Acord 175?

You must gather information such as the insurer’s details, policy number, property and liability details, reason for the change, and authorized signature.

Is There a Fee for Submitting the Acord 175?

Some insurance agencies often require processing fees. However, you must consult your agent and ask about any charges for the submission.

How Long Does it Take to Process a Change Request?

It usually takes 3 to 5 working days to complete the process of a change request. Moreover, you need to stay in touch with your agent and ask about the process duration.

What Types of Changes Can I Request with the Acord 175?

You can request changes like adjusting policy limits, modifying liability details, adding/removing coverage, or updating insured properties.

Can I Use Acord 175 Fillable for Personal Insurance Policies?

No, it is only used for the commercial policies. However, you can use Acord 80 for homeowners as a personal insurance policy.