Acord 27 Form | Evidence of Property Insurance (PDF)
Before closing a mortgage or signing a lease, whoever’s putting up the money usually wants proof the property is actually insured. ACORD 27, the Evidence of Property Insurance form, is how that proof gets delivered, one page confirming coverage is currently in place.
What Is ACORD 27?
ACORD is the organization that creates standardized insurance forms, not an insurance company itself. ACORD 27 is its form for evidence of property coverage, one page listing the property, the coverage level, the amount insured, and anyone else with a financial interest in it.
It shows up in a few recurring situations: a real estate loan closing or renewal, a landlord asking a tenant for proof as part of a lease, or a general contractor asking a subcontractor who owns significant equipment.
ACORD 27 Form, Section by Section
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1
Agency & Company
The insurance agency issuing the form, and the actual insurance company backing the policy.
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2
Insured & Policy Information
The property owner, the loan and policy numbers, and the effective and expiration dates. Checking “Continued Until Terminated” means the policy renews automatically instead of on a fixed date.
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3
Property Information
A description of the property or location the coverage applies to.
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4
Coverage Information
The amount of insurance and deductible, plus which of three peril levels applies, the single biggest factor in how much is actually covered:
- Basic
- A short, named list of perils, fire, lightning, explosion, and similar events.
- Broad
- Basic, plus extras like falling objects, weight of snow or ice, and accidental water damage.
- Special
- Covers everything except what’s specifically excluded, sometimes called “all-risk.”
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5
Additional Interest
Who else has a financial stake in the property. This is the part worth reading closely, because what actually happens if there’s a claim is genuinely different for each of the four:
- Mortgagee
- A real estate lender. Under the standard mortgage clause, they’re protected by a separate, independent contract with the insurer, still paid even if the property owner’s own claim is denied for fraud or a policy violation.
- Lender’s Loss Payable
- The same independent protection as a mortgagee, but for a lender financing equipment or personal property instead of real estate.
- Loss Payee
- No independent protection. Their right to be paid depends entirely on the owner having a valid claim, if the owner’s claim is denied, the loss payee typically gets nothing either.
- Additional Insured
- Shares in the coverage itself, though property additional insured status is less standardized than the other three, worth confirming the exact wording with the agent.
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6
Remarks
Free text for special conditions, for example, describing a specific piece of equipment if the coverage isn’t for a building.
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7
Cancellation
States notice will be delivered “in accordance with the policy provisions,” no specific number of days, the same wording used on ACORD 25.
How This Form Compares
Two mix-ups come up often enough to be worth stating plainly: this form covers property, not liability, that belongs on ACORD 25 instead. And it’s sized for smaller coverage, ACORD 28 is the fuller version used for larger commercial property.
| This Form | ACORD 28 | |
|---|---|---|
| Property type | Residential, personal, small commercial | Larger commercial property |
| Additional interest options | 4 types | Mortgagee & Loss Payee focused |
Example: A Bakery Financing Its Building
A bakery is taking out a mortgage to buy the building it operates in. The bank wants evidence of property insurance before closing. Here’s what the form would show:
FAQs
Is this the same as ACORD 28?
No. This form covers residential, personal, and small commercial property. ACORD 28 is the fuller version used for larger commercial property.
Can this form be used for liability coverage?
No, and this trips people up more than you’d expect, some agents have mistakenly added liability coverage to this form. It’s specifically for property. Liability belongs on ACORD 25 instead.
Why would a lender insist on Mortgagee instead of Loss Payee?
Because the mortgagee clause protects them even if the property owner’s own actions get the claim denied. A simple loss payee has no such protection.
Is ACORD 27 fillable?
The PDF below is fillable in most PDF readers. Only your insurance producer can issue a valid, signed copy reflecting a real policy.
Do I fill this out myself?
No. Your insurance agency completes and signs it, using details from your actual property policy.
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.