What is an ACORD 129?
As you begin a career in insurance, it’s crucial to familiarize yourself with the applications used in the Agency Management System (AMS). This article will delve into the details of the ACORD forms you’ll be using daily to manage client information, with a special emphasis on the ACORD 129 form for scheduled auto insurance. We’ll also explore the scheduled autos meaning and its significance in the insurance industry.
ACORD forms are universally recognized documents that contain information required by most, if not all, insurance carriers to provide a quote back to the agency. The ACORD CORPORATION has developed an extensive ACORD forms list, each serving a specific purpose related to different types of coverage. Among these, one form you’ll frequently come across is the 129 form, which is part of the broader ACORD auto application family.
The ACORD 129 form, also called the vehicle schedule is a crucial element of the ACORD commercial auto application process. It’s typically used alongside another application, primarily the ACORD 127 Business Auto Section.
Understanding how to complete this form is vital for managing scheduled auto insurance. Fortunately, if you’ve already tackled the business auto ACORD 127, you’ll find this form straightforward. Regardless, below you will find some helpful instructions. Scroll to the bottom of the page for a live version or click here to download.
Basic Information - ACORD 129
The form begins with fields for the Agency Name, NAMED INSURED(S), and the policy Effective Date. Depending on your Agency Management System, these details may auto-populate, but double-check them if you’re using the form outside the AMS.
Vehicle Description
Most of the ACORD 129 form focuses on specific data for each vehicle. Similar to Page 3 of the ACORD 127, you’ll need to provide:
- VEH # (Vehicle Number)
- Year, Make, Model
- V.I.N. (Vehicle Identification Number)
- Vehicle Type (Private Passenger, Special, or Commercial)
- Garaging Address
- Registration State
- Gross Vehicle Weight
- Vehicle Classification (CLASS)
- RADIUS of operation
- Vehicle Use
- BODY TYPE
- COVERAGES needed
- Cost New
- Deductibles for Comprehensive (COMP / OTC SYM) and Collision (COLL SYM) coverage
You might also see additional fields on the ACORD 129 such as:
- NAIC CODE
- CARRIER information
- SIC FACTOR
- FARTHEST TERMINAL
- SEAT CP (Seating Capacity)
- SYM / AGE (Symbol / Age)
- TOTAL PREM (Total Premium)
Other Important Notes for ACORD 129:
This form (along with other ACORD documents, like the ACORD 125) should be available in your Agency Management System. You can fill out the form there and then send an ACORD 129 PDF to the client for verification. Always remember, the 129 Vehicle Schedule Form is meant to accompany the ACORD 127 or another related ACORD document.
Frequently Asked Questions
The ACORD 127 and ACORD 129 forms
ACORD 129 is a Vehicle Schedule form used to list additional vehicles when other ACORD forms, such as ACORD 127, no longer have room for the complete list of vehicles
For each vehicle, you need to provide: Vehicle number, Year, make, and model, Vehicle type (Commercial, Special, or Private Passenger), Garaging address, Vehicle use (e.g., pleasure, commercial, retail), Coverage information
ACORD 129 is typically attached to ACORD 127 (Business Auto Section) when there are more vehicles to list than can fit on the main form
Only required when there are more vehicles to list than can be accommodated on the main application form (usually ACORD 127)
If an insurance application involves more than 13 drivers, an ACORD 163 form may be used to record additional driver information. This form is specifically designed to capture details for additional drivers when the main application forms, such as ACORD 127, do not have enough space.
