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ACORD 147, Installation / Builders Risk Section, page 1
Complex · 64/100Form Complexity Index

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What this form asks for

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ACORD 147, the Installation / Builders Risk Section, is a supplemental insurance application used in conjunction with ACORD 125 (Commercial Insurance Application). It gathers detailed information about a contractor's projects, including job values, duration, security, and transportation, to underwrite coverage for materials and property during construction or installation. 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
Pages3
Form Complexity IndexComplex, 64/100

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.

Effective Date Chronology

This check validates that the 'EFFECTIVE DATE' is not in the past. An insurance policy cannot be backdated through a standard application process. This ensures the policy starts on the submission date or a future date, which is critical for establishing the correct coverage period. If the date is in the past, the form will flag an error and require correction before submission.

Applicant Name Completeness

Verifies that the 'APPLICANT / FIRST NAMED INSURED' field is not empty. The applicant's name is the most fundamental piece of information, identifying the legal entity seeking coverage. Without this information, the policy cannot be quoted, underwritten, or issued. A failed validation will prevent form submission until the name is provided.

Causes of Loss Selection

Ensures that at least one 'CAUSES OF LOSS' checkbox (BASIC, BROAD, or SPECIAL) is selected. This selection defines the scope of perils the policy covers and is essential for rating and policy creation. If no selection is made, the system cannot determine the coverage being requested and will prompt the user to choose an option.

Job Term Date Logic

For a 'SPECIFIC JOB' on page 2, this validation confirms that the 'COMPLETION' date is on or after the 'COMMENCEMENT' date. A completion date that precedes the commencement date is a logical impossibility and indicates a data entry error. This check prevents inaccurate policy terms and ensures the defined job period is valid.

Installation Value Consistency

This check validates the logical relationship between the 'COST OR VALUE OF EACH INSTALLATION' fields. It ensures that the 'MINIMUM' value is less than or equal to the 'AVERAGE' value, and the 'AVERAGE' is less than or equal to the 'MAXIMUM' value. This prevents illogical data entry that would confuse underwriting and rating calculations, flagging an error if the hierarchy is incorrect.

Gross Receipts Completeness

Confirms that both 'PAST 12 MONTHS' and 'NEXT 12 MONTHS (ESTIMATE)' for gross installation receipts are provided and are valid numeric values. These figures are crucial for underwriters to assess the size and scope of the applicant's operations, which directly impacts the premium calculation. Missing or invalid data will halt the quoting process.

And 8 more checks
  • Coverage Limit Format
  • Additional Interest Detail Requirement
  • Transportation Method Percentage Sum
  • Signature Date Format and Presence
  • Specific Job Description Requirement
  • Material Cost Percentage Range
  • Producer License Number Requirement
  • Contract Amount vs. Location Limit

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How to Fill Out ACORD 147 Online for Free in 2026

What the AI walks you through.

  1. Navigate to Instafill.ai and upload or select the ACORD 147 form.
  2. Enter basic applicant, agency, and policy information in the header section.
  3. Specify the coverage type (Open Reporting or Specific Job) and provide details on job values, receipts, and duration.
  4. Define the required coverage limits for transit, temporary locations, and disaster events, along with the causes of loss and deductibles.
  5. Describe the applicant's operating territory, transportation methods, job site security, and any rigging operations.
  6. List any additional interests, such as loss payees or lienholders, with their corresponding details.
  7. Review all the provided information for accuracy, then have the producer and applicant sign and date the form to complete the application.

Common Mistakes in Completing ACORD 147

The ones the AI is built to catch.

Confusing 'Open Reporting' with 'Specific Job' Coverage
Applicants often fill out the wrong section or incorrectly complete both Page 1 ('Open Reporting Form') and Page 2 ('Specific Job'). Page 1 is for contractors who need continuous coverage for multiple, ongoing projects, while Page 2 is for a single, defined project. This error leads to improper coverage, either leaving new jobs uninsured or causing the applicant to pay for broader coverage than necessary, and will cause significant delays in binding the policy. To avoid this, clearly identify whether you need a policy for one job or for your ongoing operations and complete only the relevant page.
Providing Incomplete 'Additional Interest' Details
This section is frequently filled out with just a name, omitting the full address, interest type (Loss Payee/Lienholder), or reference number. Failing to check the 'Certificate Required' box is also a common oversight. Incomplete information can delay project financing, as lenders will not proceed without being properly listed, and may put the applicant in breach of their contract. To prevent this, gather all required information from the lender or property owner beforehand and ensure every field in the 'Additional Interest' section is completed accurately.
Miscalculating or Misreporting Project Values
Applicants often struggle to accurately report values, confusing the 'Contract Amount' with the total insurable value, especially when owner-supplied materials are involved. For instance, the total value at risk should include the contract price plus the value of any materials or equipment supplied by the project owner. Understating the value can lead to significant financial loss if a claim is subject to a coinsurance penalty, while overstating it results in paying excessive premiums. Carefully calculate the total completed value of the project, including all materials, labor, and overhead.
Neglecting Transit and Temporary Location Coverage Limits
Many applicants focus solely on the job site itself and leave the limits for 'Transit' and 'Temporary Location' blank or at $0. This creates a major coverage gap, as materials are uninsured against loss during shipping or while stored at an off-site warehouse. A single event like a vehicle accident or warehouse fire could result in a catastrophic, uninsured loss of materials. To avoid this, estimate the maximum value of materials that will be in transit or storage at any given time and request adequate limits.
Using Vague Descriptions for Security, Rigging, or Job Type
Fields requiring a description, such as 'Describe Job Site Security' or 'Describe all hoisting or other operations requiring rigging,' are often answered with one-word responses like 'fenced' or 'cranes'. This lack of detail forces the underwriter to request more information, delaying the quote and binding process. Insufficient detail can also lead to an inaccurate risk assessment and premium calculation. Provide specific, detailed descriptions, such as 'Job site is enclosed by a 6-foot chain-link fence with a locked gate and monitored by overnight security patrols,' to ensure clarity.
Selecting an Inappropriate 'Causes of Loss' Form
Applicants often do not understand the significant differences between 'Basic,' 'Broad,' and 'Special' Causes of Loss, sometimes choosing the cheapest option without realizing the coverage limitations. A 'Basic' form policy may exclude common perils like theft or water damage, leading to a denied claim that the applicant assumed would be covered. To avoid this, discuss the project's specific risks with your insurance agent to determine if the comprehensive coverage of a 'Special' form is more appropriate, preventing unexpected gaps in protection.
Inaccurate Estimation of Gross Installation Receipts
When applying for an 'Open Reporting' policy, the premium is heavily influenced by the estimated gross receipts for the next 12 months. Applicants may provide a rough guess, which can lead to financial complications. A low estimate can result in a large, unexpected bill after the end-of-year premium audit, while a high estimate means overpaying for insurance throughout the year. To avoid this, base your estimate on historical data and signed future contracts to provide the most realistic projection possible.
Forgetting to Sign and Date the Application
An unsigned or undated application is one of the most common and easily avoidable mistakes. An application without a signature is not legally valid and cannot be processed by the insurance carrier, leading to immediate rejection and delays. This can jeopardize project timelines if coverage is required to begin work. Always perform a final review of the entire application, paying special attention to the signature and date fields on Page 3 before submission.
Failing to Specify the Complete Operating Territory
The 'Territory' field is critical for defining the geographical scope of coverage, but it is often left blank or filled in with a vague term like 'various'. Insurance coverage is strictly limited to the territory defined in the policy. Performing work outside of this specified area could result in a claim being denied, leaving the contractor exposed to a major uninsured loss. To avoid this, clearly list all states, counties, or the specific mileage radius from your business address where work will be performed.
Omitting 'Value of Owner Supplied Property'
On the 'Specific Job' section (Page 2), applicants sometimes only enter the 'Contract Amount' and leave the 'Value of Owner Supplied Property' field blank, even when the owner is providing materials. The total insurable value of the project must include everything that is being installed, regardless of who purchased it. Failing to include the value of owner-supplied goods will result in the project being underinsured, which can trigger a coinsurance penalty and lead to an out-of-pocket loss in a claim. Always confirm with the project owner if they are supplying any materials and include that value in the application.

Frequently Asked Questions About ACORD 147

 

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How does the AI fill out ACORD 147?
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 147, 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 147 to fill out?
ACORD 147 has a Form Complexity Index of 64 out of 100, in the complex tier: 205 fillable fields across 3 pages. 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 147 form?
The ACORD 147, also known as the Installation / Builders Risk Section, is used to apply for insurance coverage for property and materials during construction or installation projects. It is an attachment that provides specific details for this coverage and is submitted with the main ACORD 125 Commercial Insurance Application.
Who needs to fill out this form?
This form should be completed by contractors, builders, or any business seeking builders risk or installation floater insurance to protect against loss or damage to a project during construction.
What is the difference between the 'Open Reporting Form' and 'Specific Job' sections?
The 'Open Reporting Form' on page 1 is for covering multiple, ongoing jobs under a single policy, typically for contractors with continuous work. The 'Specific Job' section on page 2 is used to insure a single, particular project with a defined scope and contract value.
What information is required in the 'Additional Interest' section?
You must list any third party with a financial interest in the project, such as a bank (Lienholder) or property owner (Loss Payee). You will need their full name and address, and you must specify their interest type.
What do I need to provide for 'Gross Installation Receipts'?
This section requires you to report your business's total revenue from installation jobs over the past 12 months, as well as an estimate for the upcoming 12 months. This helps the insurer assess the scale of your operations.
How do I choose between Basic, Broad, and Special 'Causes of Loss'?
These options define the scope of perils your policy covers, from the most limited (Basic) to the most comprehensive (Special). You should discuss with your insurance agent which level of coverage is appropriate for your project's risks.
What should I include in the 'Job Site Security' description?
Describe the measures you take to protect the site from theft or damage, such as fencing, lighting, surveillance cameras, or security guards. This information helps the underwriter assess the project's risk level.
What if I need more space to provide information?
The form states that if you need more space for remarks or to list additional interests, you can attach an ACORD 101 (Additional Remarks Schedule).
Does this form need to be signed?
Yes, the applicant or an authorized representative must sign and date the form on page 3 to certify that the information provided is true and complete. The insurance producer (agent) also needs to sign.
Can AI tools help me complete the ACORD 147 form?
Yes, services like Instafill.ai use AI to auto-fill form fields accurately from your existing data, which saves significant time and helps prevent errors.
How can I fill out this form online if I only have a PDF?
You can use a platform like Instafill.ai to fill out your form online. Simply upload the PDF, and the tool will make it an interactive, fillable form that you can complete, save, and download.
My copy of the ACORD 147 is a 'flat' PDF and not fillable. What can I do?
Tools like Instafill.ai can convert non-fillable or 'flat' PDFs into interactive forms. This allows you to easily type your information into the correct fields as if it were an online form.
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builders risk forms: ACORD 144, Glass and Sign Section, ACORD 147 (2001/02), Installation/Builders Risk Section

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installation risk forms: ACORD 147 (2001/02), Installation/Builders Risk Section

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