ACORD 147: Installation and Builders Risk Section.

How the form is used.

Describe the project from start through completion.

Preparation guidance from Hedge. Follow the instructions in the accepted form edition and the intended market's requirements.

1. Separate existing structure values, work to be completed and other requested values rather than providing one unexplained total.
2. Document the start date, work already completed, project schedule and expected completion date.
3. Explain site protection, storage, water-damage controls and other conditions relevant to the construction phase.

What a clearer packet looks like.

A renovation has already started when insurance is requested. State the original start date, completed work and remaining scope. Describing it as a new project beginning on the requested effective date would leave a material fact unexplained.

Hypothetical example, not a placement result or a coverage determination.

Builders risk vs. ongoing property

ACORD 147 supports installation or construction review. ACORD 140 supports property review. Explain existing structures and occupied portions so the intended market can determine the appropriate application and coverage approach.

Facts to prepare.

• Project description and location
• Existing structure and completed values
• Hard costs, soft costs, and delay exposures
• Construction type and protection
• Start date and completion schedule

Review before using the form.

• Separate renovation values from existing structure values
• Identify work already completed
• Explain security, water damage, wind, wildfire, and theft controls

Use ACORD 147 correctly.

Assemble the account-specific packet.

Use the class submission guide to identify the underwriting facts and Hedge forms that may apply, then have Hedge confirm the intended market and route.