Acord 21 Form Fillable (Certificate of Aircraft Insurance) Download
Acord 21 Fillable Form
An Acord 21 form is a certificate of insurance (COI). An insurance company or broker issues a certificate that proves the insured aircraft has enough insurance coverage to meet the aviation rules and regulations. In addition, you can quickly download a blank or fillable form in PDF format by clicking the download button below. This form contains producer, insurer, and insurance coverage details to provide the aviation sector on demand. Moreover, you will know its importance, the step-by-step instructions for filling it out, and substantial examples.
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Why is the ACORD 21 Form Important?
This certificate informs all stakeholders that specific aircraft have full insurance coverage. However, it is essential for individuals, partners, contractors, and organisers as follows:
Risk Management
An insured aircraft removes the additional financial burden on the owner, pilot, and other staff members in case of an accident. The insurer pays the deductible amount, and the company is responsible for the remaining loss due to the accident.
Financial Protection
The insurance of the aircraft is compulsory for the owner and pilots to protect from financial risk. However, this certificate reduces the financial risk within the aviation industry.
Contractual Obligations
In many scenarios, proving an insured aircraft is essential to getting a contract in the aviation industry. Fortunately, this certificate is enough to prove the full aircraft insurance coverage.
Legal Compliance
Legal compliance is compulsory in many jurisdictions. For instance, the Federal Aviation Administration (FAA) requires proof of providing an aircraft certificate with full insurance coverage. This certificate is beneficial in complying with all legal documentation.
Transparency for Stakeholders
The aviation industry has many stakeholders, such as lenders, lessors, and regulatory bodies. These often require proof of insurance before operations or transactions are approved. This COI will create transparency for the stakeholders.
How To Get an ACORD 21 Fillable Insurance Certificate
Contact Insurance Agent
You can get an Acord insurance certificate through an insurance agent or producer. Simply provide the relevant information about the insurance coverage, and he will create a certificate for you. Make sure that the insurance agent covers all the insurance policies for providing proof.
Official Website
Acord’s official website allows you to download any required certificate of insurance. The Association of Cooperative Operations and Research (ACORD) created this certificate, which provides information to certify insurance coverage.
Third-Party Website
Third-party websites also allow you to visit them for the required insurance certificate. Fortunately, you can type www.formsdude.com into the Google web engine. Go to Acord Forms and search for the required form. Click the download button to save the fillable blank form. Moreover, you can bookmark this URL to get more Acord certificates without any hurdles.
Step-by-Step Instructions to Filling Out the Blank Acord 21 Form
1- Date and Producer Information
At the top right corner, fill in the date in the given format (DD/MM/YYYY). Then, write the producer’s full name, mailing address, street, city, state name, and city’s postal code. Verify the given details to confirm the correct data.
2- Insured Information
This section requires the insurer’s complete information. Write the insurer’s full name, mailing address, street, city, state name, and city’s postal code. Check all the details carefully for smooth verification.
3- Insurance Company Details
Write the insurance company’s name, contact number, fax number, email address, producer’s customer ID, and NAIC (National Association of Insurance Commissioners) number against each affordable coverage.
4- Policy Information
Write the policy and revision number in this section, and tick all boxes in the policy type section. Also, tick the relevant boxes of the line of business subcodes.
5- Aircraft Information
Mention the complete information about the aircraft, including the model name, manufacturing year, and registration or tail number.
6- Insurance Coverage Details
In this section, check the boxes to ensure all the coverage, such as aircraft liability, passenger liability, hull coverage, and optional coverages. This will entitle the certificate about all insurance coverage of the aircraft. Moreover, mention the effective date and expiration date to indicate the start and end of the policy.
7- Additional Details
Below the insurance coverage section, write the description or additional remarks for any clause or restrictions. However, Acord 101 can also be attached if applicable.
8- Certificate Holder
Here, write the complete information of the certificate holder. This information includes full name, street, mail address, city name, province name, and city’s postal code.
9- Cancellation Clause
In the clause section, it is compulsory for insurers to inform about the cancellation of a policy as a notice at least 30 days before the cancellation date.
10- Signature and Date
In this section, the authorised representative will do his/her signature with the date.
Additional Details to Consider While Filling Out Acord 21 Form
Verification of Coverage
You must verify the insurance policy’s coverage details quickly. Also, check that the company and producer details are correctly mentioned.
Proper Communication
Proper communication is a valid key to conveying the information. Providing the policy coverage information to the agent through the appropriate channel is essential.
Monitor Expiration Date
To avoid any misleading, you must regularly monitor the policy’s expiration date.
Request Updated Certificate
If the insurance policy changes during the agreement with any firm, ask your broker to create a new certificate immediately. It is essential to request an updated certificate on time.
Proper Record Keeping
Record-keeping of all related documents is essential. The contractor or organiser can ask at any time for the data to be verified. If you are unable to provide the record on time, there are more chances to cancel the agreement.
FAQS
What is the Acord 21 Certificate of Aircraft Insurance?
It is a form used to create a certificate to prove the full insurance coverage of aircraft.
Who Typically Needs an Acord 21 Certificate?
Different stakeholders in the aviation industry, such as lenders, lessors, owners, operators, and regulatory authorities, can acquire this certificate as proof of insurance.
What Information Does the Acord 21 Certificate Include?
It includes policyholder information, policy producer information, aircraft insurance coverage, effective and expiration dates, and deductible limits.
Is the Acord 21 Certificate a Contract?
No, it is just information about the policyholder’s need to have enough insurance coverage for aircraft.
Who Issue the Acord 21 Certificate?
The agent, broker, or insurance producer often creates the certificate under the terms and conditions of the Association of Cooperative Operations and Research (ACORD).