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ACORD 155, Equipment Breakdown Section, page 1
Moderate · 61/100Form 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 155, known as the Equipment Breakdown Section, is a standardized document used in the insurance industry for businesses applying for equipment breakdown coverage. It allows applicants to detail specific machinery, request coverage limits for various risks like production machinery or diagnostic equipment, and list any additional parties with a financial interest. Completing this form accurately is crucial for ensuring proper protection against costly equipment failures. 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 fields169
Pages2
Form Complexity IndexModerate, 61/100

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.

Ensures Date Fields are Correctly Formatted and Logical

This check verifies that all date fields, such as `Policy_EffectiveDate_A` and `Form_CompletionDate_A`, are entered in the standard MM/DD/YYYY format. It also ensures the date is a real, valid calendar date (e.g., not 02/30/2023). This is crucial for establishing correct policy periods and avoiding processing errors or legal disputes over coverage timing.

Validates Model Year of Oldest Equipment

This validation ensures the `BoilerAndMachineryCoverage_EquipmentBreakdown_ModelYear_A` field contains a valid four-digit year. The year must not be in the future and should be within a reasonable historical range to be plausible. This is critical for underwriting, as the age of equipment directly impacts its risk profile and premium calculation.

Verifies Business Income Coinsurance Percentage is within Range

This check confirms that the value entered for `BoilerAndMachineryCoverage_BusinessIncome_CoinsurancePercent_A` is a numeric value between 0 and 100, inclusive. Coinsurance is a fundamental part of the insurance calculation, and an incorrect percentage would lead to incorrect premium calculations and claim payouts. This validation prevents data entry errors that could have significant financial consequences.

Ensures Coverage Limit is Greater Than or Equal to Deductible

This validation performs a cross-field check on all coverage pairs, such as `BoilerAndMachineryCoverage_EquipmentBreakdown_LimitAmount_A` and its corresponding `DeductibleAmount`. It ensures the specified limit of liability is not less than the deductible amount for the same coverage. This maintains the logical integrity of the policy structure, as a deductible cannot exceed the total coverage available.

Requires Explanation for Negative General Information Responses

This check enforces the rule stated in the 'GENERAL INFORMATION' section. If any of the questions 1, 2, 3, or 5 are answered 'No', the corresponding explanation field must be filled out. This is vital for underwriters to understand the specific risks associated with non-standard maintenance, accessibility, or equipment condition.

Requires Explanation for 'Yes' Response on CFC Refrigerants Question

This validation ensures that if question 4, regarding the use of Chlorofluorocarbon (CFC) refrigerants, is answered 'Yes', the associated explanation field is mandatory. The use of CFCs can represent a significant environmental and regulatory risk, and underwriters require detailed information to properly assess the exposure. Failure to capture this explanation could lead to mispriced risk.

And 8 more checks
  • Ensures Applicant / First Named Insured is Provided
  • Validates Email Address Format for Additional Interests
  • Requires an Interest Type for each Additional Interest
  • Validates NAIC Code Format
  • Verifies all Limit and Deductible fields are Valid Currency Amounts
  • Enforces National Producer Number Requirement for Florida
  • Ensures Applicant Signature Date is Provided
  • Validates Phone Number Format

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How to Fill Out ACORD 155 Online for Free in 2026

What the AI walks you through.

  1. Navigate to Instafill.ai and upload or select the ACORD 155 form.
  2. Provide basic applicant, agency, and policy information for the AI to populate the header section.
  3. Specify the desired coverage limits and deductibles for various categories such as Equipment Breakdown, Business Income, and Spoilage.
  4. Enter details for any additional interests, including names, addresses, and the nature of their interest in the insured property.
  5. Answer the 'General Information' questions regarding equipment maintenance, condition, and accessibility.
  6. Review the entire form, which has been auto-filled by the AI, to ensure all information is correct and complete.
  7. Electronically sign the application and submit it to the insurance carrier or agency.

Common Mistakes in Completing ACORD 155

The ones the AI is built to catch.

Failing to Explain Required 'Yes'/'No' Answers
The 'General Information' section explicitly requires written explanations for all 'NO' answers and for a 'YES' answer to question #4 (regarding CFC refrigerants). Applicants frequently check the box but forget to provide the corresponding narrative in the 'Remarks' section. This omission creates an incomplete application, forcing the underwriter to request the missing information, which delays the quoting and binding process. To avoid this, carefully review each question and provide a clear, concise explanation in the 'Remarks' section for any answer that requires it.
Incomplete 'Additional Interest' Information
The 'Additional Interest' section is often submitted with missing or partial information, such as omitting the full legal name, complete address, or the specific 'REFERENCE / LOAN #' for a lienholder. This happens because the applicant may not have the information readily available when filling out the form. An incomplete entry can cause significant delays during a claim, as the insurer cannot properly notify or issue payment to the interested party. Always gather all necessary documents for lienholders or lessors beforehand to ensure all fields are entered accurately.
Confusing Coverage Limit and Deductible Columns
The form layout features adjacent columns for 'LIMIT' and 'DEDUCTIBLE' for dozens of coverage types. A frequent and critical data entry error is inadvertently entering a coverage limit into the deductible column, or vice versa. This simple mistake can have drastic consequences, either leaving the business severely underinsured or resulting in a quote with an unacceptably high deductible and incorrect premium. To prevent this, double-check every line item to ensure financial figures are placed in the correct columns. AI-powered form-filling tools like Instafill.ai can help prevent this by using clear labels and validation to guide data entry.
Omitting the 'Model Year of Oldest Equipment'
Applicants often leave the 'MODEL YEAR OF OLDEST EQUIPMENT' field blank, guess the year, or enter an average year for all their equipment. This specific data point is a critical underwriting factor used to assess the risk of breakdown due to age and obsolescence. Providing inaccurate or missing information can lead to incorrect pricing, coverage limitations on older equipment, or even a declination from the carrier. Before completing the form, inventory your key equipment and identify the manufacturing year of the oldest piece to ensure accurate risk assessment.
Selecting the Wrong 'Interest' Type for an Additional Interest
The 'Additional Interest' section provides numerous checkboxes to define a party's interest (e.g., 'Lienholder', 'Loss Payee', 'Mortgagee', 'Lender's Loss Payable'). Each has a distinct legal meaning that affects how claims are paid. Applicants often select a generic option like 'Loss Payee' when a more specific one like 'Lender's Loss Payable' is required by contract, which can complicate or delay claim payouts. It is crucial to understand the legal relationship with the third party and select the precise interest type; consult your agent if unsure.
Incorrectly Calculating Business Income Values
The 'BUSINESS INCOME' section requires an 'ANNUAL VALUE' and a 'COINSURANCE PERCENTAGE', which are often misunderstood or miscalculated. Applicants may mistakenly enter their total annual revenue instead of the correct business income value (typically net income plus continuing normal operating expenses). This error can lead to being significantly over-insured and paying excessive premiums, or being under-insured and facing a substantial coinsurance penalty during a major loss. Work with a financial professional or your insurance agent to accurately calculate this value based on your financial statements.
Misclassifying Equipment Types
This form requires applicants to allocate coverage limits across distinct equipment categories like 'Production Machinery', 'Diagnostic Equipment', and 'Mechanical and Electrical Equipment'. A common error is misclassifying an asset, for instance, listing a specialized medical scanner under general 'Mechanical' equipment instead of 'Diagnostic'. This can lead to coverage gaps or disputes during a claim if the damaged equipment isn't covered under the correct, specifically-underwritten category. To prevent this, carefully review the function of each piece of machinery and list it under the most appropriate heading.
Leaving Key Header Information Blank
Basic but essential fields in the header like 'POLICY NUMBER' (for renewals), 'AGENCY CUSTOMER ID', and 'NAIC CODE' are often left empty. Applicants may assume this information will be filled in by the agent or is not necessary for a quote. However, omitting these identifiers can cause processing delays, misidentification of the account, or prevent the application from being routed to the correct carrier or underwriter. Always complete all fields in the header section to the best of your ability to ensure a smooth submission process.
Missing Signatures or Dates
The applicant and producer signature lines at the end of the form are frequently overlooked or left unsigned. An unsigned or undated application is not legally valid and cannot be processed or bound by the insurance carrier. This simple oversight brings the entire underwriting process to a halt until a properly executed signature page is received, delaying the inception of coverage. Make it a final checklist item to ensure both the applicant and producer have signed and dated the form in the designated areas before submission.
Data Entry Errors from Manual Re-typing on Non-Fillable PDFs
This ACORD form is often distributed as a flat, non-fillable PDF, forcing users to either print it and fill it out by hand or manually type information using basic PDF editors. This process is highly prone to typographical errors, misalignments, and illegible entries, especially in the dense tables for coverage limits. These errors can lead to incorrect quotes and policies. To mitigate this, use a tool like Instafill.ai, which can convert flat PDFs into an interactive, fillable version, reducing manual errors and ensuring data is clean and properly formatted.

Frequently Asked Questions About ACORD 155

 

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How does the AI fill out ACORD 155?
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 155, 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 155 to fill out?
ACORD 155 has a Form Complexity Index of 61 out of 100, in the moderate tier: 169 fillable fields across 2 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 ACORD 155 form used for?
The ACORD 155 is a supplemental form used to apply for specific types of commercial insurance, primarily Equipment Breakdown coverage. It details the specific equipment, desired coverage limits, and deductibles for a business.
Who needs to fill out the ACORD 155 form?
Any business seeking to obtain or modify an Equipment Breakdown insurance policy needs to complete this form. It is typically filled out by the business owner or an authorized representative, often with assistance from their insurance agent.
How do I submit this form?
The ACORD 155 is not a standalone document; it must be attached to the main ACORD 125, Commercial Insurance Application. Both forms are then submitted together to the insurance carrier to apply for coverage.
What is the difference between a 'Limit' and a 'Deductible' on this form?
The 'Limit' is the maximum amount the insurance company will pay for a covered loss. The 'Deductible' is the amount you, the insured, must pay out-of-pocket for a claim before the insurance coverage begins to pay.
Why do I need to fill out the 'Additional Interest' section?
You must complete this section if a third party, such as a lender or leasing company, has a financial interest in your equipment. This ensures they are properly notified or compensated in the event of a covered loss.
What information should I have ready before filling out this form?
You will need your basic business and policy information, desired coverage limits, and details about your equipment's condition and maintenance schedules. If you have loans on the equipment, you'll also need the lender's contact information and loan details.
How does the 'Model Year of Oldest Equipment' affect my application?
This information helps the insurer assess the risk, as older machinery may have a higher probability of failure. It can influence your premium rates and the overall terms of your coverage.
What should I do if I have to answer 'No' to a question in the 'General Information' section?
The form requires you to provide an explanation for all 'No' responses (except for question 4). Use the 'Remarks' section to give a clear and honest explanation of the circumstances.
What does 'Spoilage / Perishable Goods' coverage apply to?
This coverage is for businesses with perishable stock, like food or pharmaceuticals, that could be ruined due to a breakdown of refrigeration or climate control equipment. It reimburses you for the value of the spoiled goods.
Can I use AI to help me fill out the ACORD 155 form?
Yes, services like Instafill.ai use AI to accurately auto-fill form fields from your existing records, which can save significant time and reduce errors. This is especially helpful for repetitive information like your business name and address.
How can I fill out the ACORD 155 form online?
You can use a service like Instafill.ai to complete the form digitally. Simply upload the ACORD 155 PDF, and the platform will allow you to type directly into the fields, save your progress, and easily share the completed form.
The ACORD 155 PDF I have isn't fillable. What can I do?
If you have a non-fillable or 'flat' PDF, you can upload it to a tool like Instafill.ai. The service will automatically convert it into an interactive, fillable form that you can complete on your computer.
Who needs to sign the ACORD 155 form?
Both the applicant (an authorized representative of the business) and the insurance producer (agent) must sign the form. The applicant's signature certifies that the information provided is true and correct to the best of their knowledge.
The form is titled 'Commercial Earthquake Section' but the fields are for 'Equipment Breakdown.' Why is that?
ACORD 155 is a multi-purpose form that can be used for different supplemental coverages, including both Equipment Breakdown and Commercial Earthquake. The specific fields you fill out will depend on the type of coverage you are applying for.
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