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ACORD 139, Statement of Values, page 1
Complex · 63/100Form Complexity Index

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What this form asks for

The AI fills all of it, from your answers or your documents.

ACORD Form 139, known as the Statement of Values, is a crucial document for obtaining commercial property insurance. It provides a detailed schedule of locations and their corresponding values, including buildings, contents, and business interruption figures, allowing underwriters to accurately assess risk and calculate premiums. Today, this form can be filled out quickly and accurately using AI-powered services like Instafill.ai, which can also convert non-fillable PDF versions into interactive fillable forms.
Fillable fields205
Pages1
Form Complexity IndexComplex, 63/100

The AI checks your answers before you download

14 checks built for this form, so a wrong date or a missing answer is caught before anyone else sees it.

Validates Date Format (MM/DD/YYYY)

Checks that all date fields, including 'DATE', 'EFFECTIVE DATE', and the signature 'DATE', adhere to a strict MM/DD/YYYY format. This validation ensures data consistency and prevents errors in processing policy timelines and legal documents. If the format is incorrect, the system should halt submission and prompt the user for correction.

Verifies Phone Number Structure

Ensures that the Agency and Insured phone number fields follow a standard North American format, such as (###) ###-####, including the area code and an optional extension. This is crucial for ensuring the contact information is valid and can be used by automated dialers or for manual contact. An invalid format would trigger an error message requesting correction.

Validates Email Address Format

Checks if the 'E-MAIL ADDRESS' fields for both the agency and the insured contain a valid email format (e.g., [email protected]). This validation is essential for ensuring that digital communications, such as policy documents, billing notices, or other notifications, can be successfully delivered. A failed validation would prevent form submission until a valid email is provided.

Ensures Insured/Applicant Name is Provided

Verifies that the 'INSURED / APPLICANT' name field is not empty. This is a fundamental piece of information required to identify the policyholder and is legally necessary for the insurance contract to be valid. The form submission must be blocked if this critical field is left blank.

Confirms Property Values are Numeric

Validates that all entries in the '100% VALUES' column are valid numeric or currency figures, without any text or special characters other than currency symbols and separators. This value is the basis for determining coverage amounts and premiums, so it must be a number. Non-numeric entries would lead to calculation errors and an incorrect policy, so the system must reject them.

Verifies Sum of Property Values

Performs a cross-field check to ensure the 'TOTAL$' amount at the bottom of the '100% VALUES' column correctly equals the sum of all individual property values listed in the table. This acts as a crucial safeguard against manual calculation errors and ensures the total declared value is accurate. A mismatch would flag the column for review and correction.

And 8 more checks
  • Validates Page Numbering Logic
  • Validates Coinsurance Percentage Selection
  • Checks Logical Consistency of Effective Date
  • Confirms Insured's Signature is Present
  • Validates NAIC Code Format
  • Ensures Property Address is Complete for Each Entry
  • Requires At Least One Cause of Loss Selection
  • Verifies Total Premium Calculation

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How to Fill Out ACORD 139 Online for Free in 2026

What the AI walks you through.

  1. Navigate to Instafill.ai and upload your ACORD 139 form or select it from their template library.
  2. Use the AI assistant to automatically populate basic information such as the Insured/Applicant name, policy number, and agency details.
  3. Enter the address and location details for each property being insured in the designated columns.
  4. Input the specific 100% values for the building, contents, and other coverages for each location listed.
  5. Select the applicable causes of loss (e.g., Basic, Broad, Special) and the desired coinsurance percentage.
  6. Review all the information entered by the AI and manually added values to ensure complete accuracy across all properties.
  7. Electronically sign and date the form before downloading or directly sharing it with your insurance agent or carrier.

Common Mistakes in Completing ACORD 139

The ones the AI is built to catch.

Understating or Overstating Property Values
Applicants often report the market value or purchase price of a property instead of its current replacement cost, which is what insurance policies typically cover. Understating values can trigger a significant coinsurance penalty during a claim, leaving the business underinsured. Overstating values results in paying unnecessarily high premiums for coverage that cannot be collected. To avoid this, use recent appraisals or a replacement cost estimator tool to determine the correct values for the '100% VALUES' column.
Providing Incomplete or Inaccurate Property Addresses
Mistakes such as typos, incorrect zip codes, or missing suite numbers in the 'ADDRESS OF PROPERTY' field are extremely common. An inaccurate address can lead to a property being incorrectly rated or, in a worst-case scenario, not being covered at all because the carrier has no record of insuring that specific location. Always verify each address against official records before submission to ensure there is no ambiguity about which properties are covered.
Misunderstanding the Coinsurance Clause
Many applicants select a coinsurance percentage (e.g., 80%, 90%) without fully understanding that it requires them to insure the property to that percentage of its total value. Failure to meet this requirement can result in a substantial penalty on partial loss claims, drastically reducing the payout. It is crucial to select a coinsurance percentage that aligns with the accuracy of the stated values to avoid financial penalties.
Omitting Specific Value Types like Contents or Business Income
A frequent error is to only list the building's value in the '100% VALUES' grid, while forgetting to include separate values for Business Personal Property (Contents) and Business Income (BI). This oversight means those exposures are not being insured, leaving the business vulnerable to major financial loss if contents are destroyed or operations are halted. Ensure every applicable value column is completed for each location to secure comprehensive coverage.
Incorrectly Calculating Total Values
Manually summing a long list of property values in the 'TOTAL$' field is highly susceptible to human error. An incorrect total misrepresents the overall exposure to the underwriter, which can delay policy issuance and affect the calculation of blanket limits or overall rates. Using automated tools like Instafill.ai can prevent this by performing calculations automatically, ensuring accuracy across the entire statement.
Using Incorrect Construction Class Codes
The 'CLASS CODE' field, which specifies a building's construction type (e.g., Frame, Masonry), is a primary factor in determining the premium rate. Applicants often guess or use outdated information, leading to inaccurate pricing. If the carrier discovers the wrong code during an inspection or claim, it can lead to back-charged premiums or other coverage complications.
Omitting Building Identifiers for Multi-Building Locations
When a single address ('LOC #') contains multiple structures, applicants often fail to assign a unique 'BLDG #' to each one. This creates ambiguity, making it unclear which building corresponds to which set of values. This confusion can significantly complicate and delay claims processing, especially if only one of several buildings is damaged.
Forgetting the Signature and Date
An unsigned or undated Statement of Values is not a valid legal declaration and will be rejected by the insurance carrier. This simple oversight is a common cause of processing delays, as the submission is incomplete until it is properly signed by the insured. The signature attests that all information is correct to the best of the applicant's knowledge, making it a mandatory final step.
Providing Vague Property Descriptions
Using generic terms like 'Building' in the 'DESCRIPTION OF PROPERTY' field provides no value to the underwriter. This lack of detail makes it difficult to assess the risk associated with the property's use and occupancy. A clear description, such as 'Two-story office building' or 'Steel-frame warehouse with cold storage', is essential for accurate risk assessment and pricing.
Making Errors While Manually Filling a Non-Interactive Form
This ACORD form is often a flat, non-fillable PDF, forcing users to fill it out by hand. This manual process leads to illegible handwriting, data entry errors, and misaligned information, which can cause significant delays and mistakes during data entry by the carrier. AI-powered tools like Instafill.ai can convert these non-fillable PDFs into interactive forms, which helps prevent manual errors and ensures data is entered cleanly and accurately.

Frequently Asked Questions About ACORD 139

 

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How does the AI fill out ACORD 139?
You answer a few questions in plain words, or upload a document you already have. The AI reads what you give it and puts each answer into the right field of ACORD 139, on every page, in seconds. It checks the answers against the form's own rules, and you review and change anything before you download, print or sign.
What happens to my information?
It is encrypted in transit and at rest, and it is never used to train AI.
How complex is ACORD 139 to fill out?
ACORD 139 has a Form Complexity Index of 63 out of 100, in the complex tier: 205 fillable fields across 1 page. Instafill.ai's AI fills it in under a minute, with every field there for you to review before you download.
What is the purpose of the ACORD 139 Statement of Values form?
This form is used to provide a detailed list of properties and their values to an insurance carrier. It helps the insurer accurately assess risk and calculate the premium for commercial property coverage.
Who needs to complete this form?
The applicant or insured business owner, often with the help of their insurance agent, must complete this form when applying for or renewing a commercial property insurance policy that covers multiple locations or has significant values.
What does the '100% VALUES' column mean?
This refers to the full replacement cost of the property at today's prices, including the building, contents, and any other insured items. You must provide the total value, not a partial amount, to ensure you are properly insured.
How do I list multiple properties on this form?
Each property location and building should be listed on a separate row in the main table. If you have more properties than will fit on one page, use additional pages and number them correctly in the 'PAGE OF' section.
What are 'Applicable Causes of Loss'?
This section specifies the types of perils or events you want your property to be insured against, such as Basic, Broad, or Special coverage. You should select the coverage that best fits your needs and risk tolerance.
What is the 'COINS %' (Coinsurance Percentage)?
Coinsurance is a clause that requires you to insure your property for a certain percentage (e.g., 80%, 90%) of its total value. Meeting this requirement helps you avoid a penalty on partial loss claims.
Do I need to fill in the 'RATE' and 'PREMIUM' columns?
Typically, the applicant provides the property information and values, while the insurance carrier or agent will calculate and fill in the rate and premium columns. It's best to leave these blank unless instructed otherwise by your agent.
What if I don't know the 'CLASS CODE' for my property?
The 'CLASS CODE' relates to the building's construction and occupancy and is often determined by the insurance company. You should fill in all the information you know and work with your insurance agent to complete technical fields like this.
Why is my signature required on this form?
Your signature certifies that all the values and location information provided are correct to the best of your knowledge. Inaccurate values can lead to being underinsured and may result in claim penalties.
What documents should I have ready to complete this form accurately?
It is helpful to have recent property appraisals, a list of all business locations, and an inventory of major equipment or contents. This documentation will help you accurately determine the '100% Values' for each property.
Can I use an AI tool to help me fill out this form?
Yes, services like Instafill.ai use AI to accurately auto-fill form fields from your existing data. This can save significant time and reduce errors, especially when listing many properties.
How can I fill out the ACORD 139 form online?
You can use a service like Instafill.ai to upload the PDF and fill it out on your computer. Instafill.ai allows you to easily type information into the fields, save your progress, and download the completed form.
The PDF version of this form I have is not fillable. What can I do?
If you have a non-fillable or 'flat' PDF, you can use a tool like Instafill.ai. It can convert the static PDF into an interactive, fillable form that you can complete digitally.
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