ACORD 152 Fillable Form | Commercial Inland Marine Section
ACORD 152 is the Commercial Inland Marine Section, the form that lists the equipment you want covered under an inland marine policy, such as tools, trailers, or camera gear. Fill it in carefully and the underwriter will have little left to ask you.
Inland marine isn’t boat insurance, whatever the name suggests. It covers equipment that moves around, like a contractor’s tools and trailers, a photographer’s camera kit, or a band’s gear. The form is where you list each piece and say what it’s worth.
You don’t send it on its own. It goes behind ACORD 125, the main business application, and the two together make up the ACORD inland marine application. ACORD’s own instructions say the form also covers cameras, musical instruments, and doctors’ equipment, so it isn’t only for contractors.
Before You Fill In the Inland Marine ACORD
Most of this form is the equipment list, so get your facts together first. For each item, find these:
- Make, model, and year
- Check the nameplate or the bill of sale.
- Serial number
- Insurers use it to tell your machines apart and to trace one if it’s stolen. Look for a metal plate or stamp, and photograph it once so you have it at every renewal.
- Price and purchase date
- Your invoice shows both.
- Owned or leased
- Say which. The insurer needs to know who owns it.
- Current value
- Give an honest figure that you can back up with a receipt or a price check.
- Where it’s kept
- The yard, the shop, a locked trailer. You’ll describe storage later in the form.
What’s on the ACORD 152 Fillable Form
Four pages, in this order.
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1
Page 1: Summary
You give your agency, the carrier, the policy number, and the business name. Below that, a table groups your equipment into up to ten lines. Each line gets a short description, the number of items, and the highest value of any one item. Your agent usually fills in the codes.
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2
Page 1: Coverages
This table lists the coverages you want, with limits, deductibles, and the premium. Your agent normally fills it in.
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3
Page 1: Storage
Say where the equipment stays when it isn’t working. For each place, give the highest value kept inside and the highest value kept outside. Then say how you secure it, like a locked building or a fenced yard.
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4
Page 2: Lenders
If a bank financed any of your equipment, list it here. There’s room for three lenders, and ACORD 45 covers any extras.
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5
Page 2: Yes/no questions
Five questions about how you use the equipment. Explain every yes.
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6
Page 3: The equipment list
Each item gets its own block. Fill in the description, maker, model, year, and serial number. Then add the size or capacity, whether it’s new or used, its value, the purchase date, and whether you own or lease it.
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7
Page 4: Signatures
Someone with authority for the business signs, and your agent signs too. Florida also asks for the agent’s national producer number. This page also carries the fraud warning each state requires.
Scheduled items versus blanket coverage
There are two ways to insure equipment on this form, and many policies use both. Scheduled means each item gets its own line and its own value. That suits big pieces, like an excavator or a camera package. Blanket means a group of items shares one limit. That suits small tools you don’t want to list one by one. A blanket for small tools often caps the value of any single tool, so the expensive ones still get scheduled. You’ll also see a coinsurance percent. It means you have to insure at least that share of an item’s value, and if you insure less, a claim can pay less. Ask your agent which percent your carrier uses.
The yes/no questions
Five yes/no questions close out page two. They tell the underwriter about risks your equipment list doesn’t show. If you answer yes to any of them, explain it in the box next to it.
- Rented or loaned to others
- Say yes if you rent out your equipment or lend it, with or without an operator.
- Rented or borrowed from others
- Say yes if you rent or borrow machines you don’t own.
- Equipment not listed
- Say yes if you run any equipment that isn’t on the schedule. The insurer would rather hear it now than find out at a claim.
- Used underground
- Say yes if you use any of it underground.
- Work afloat
- Say yes if any of the work happens on the water, like on a barge or a dock.
If a bank financed your equipment
When a bank loans you money for a machine, it usually wants its name on the policy. Page 2 has room for three lenders. For each one, give the item, the bank’s name and address, the loan number, and how much you still owe. Then say whether the bank is a loss payee, a lienholder, or a lender’s loss payable party. If you have more than three, attach ACORD 45.
FAQs
Can I send this section by itself?
No. It goes behind ACORD 125. Fill that one in first, and make sure the business name and policy details match on both.
What if there’s no serial number?
Write down the make, model, and year, and say the item has no serial number. Older tools and small attachments often don’t have one. Tell your agent so the insurer hears it from you.
How do I value used equipment?
Ask your agent which basis your carrier uses. Replacement cost means what a similar new item would cost. Actual cash value means that price minus wear and age. Then give a value that fits.
Does this form prove I have coverage?
No. It’s an application. For proof, ask your agent for a certificate or evidence of insurance. A few websites call this form a certificate, but it isn’t one.
Can I type into a fillable ACORD 152?
Yes. The PDF has fields you can type into. Save a copy first, so you can reuse your equipment list at renewal. If you run out of lines, print another copy of page 3, keep the item numbers in order, and tell your agent.
Daniel Whitfield
Daniel writes plain-language guides to ACORD insurance forms, based directly on what each form actually says.
This site is not affiliated with, endorsed by, or sponsored by ACORD LLC. ACORD® is a registered trademark of ACORD Corporation. This guide is for informational purposes only and is not legal or insurance advice.