Purpose and some important Fields of Acord 27 form

(Evidence of Property Insurance)
ACORD 27 form provides information about the coverage statement for mortgagees and loss payees who provide mortgages or loans on the residential property, personal property, or small commercial properties and are named in the policy.

This form reveals the requirements of mortgagees and its primary concern is the amount of insurance sufficient to cover the amount of the loan. Additionally, space is provided in the Coverage and Remarks sections of the form to include any additional information that may be required.

Many lenders pay the premium for certain types of policies such as Homeowners, the inclusion of the premium amount is inappropriate on the EPI (Equivalent Premium Income). This information will be communicated to the payor via an invoice.

This form is filled by the agency and approved by the state Department of Insurance. In many states, the text of the ACORD form cannot be modified, unless it is filed for approval by the respective state Department of Insurance. Generally, all states will not allow any change in a certificate that would attempt to modify a policy unless the revised certificate is filed and approved.


1.Physical Address Line 1 – The first line of the physical street address of the property.
2.Physical Address Line 2 – The second line of the physical street address of the property.
3.City – The city name of the physical address of the property.
4.County – The county name for the property.
State – The state or province code for the property.
5.Zip Code – The postal code for the property.
6.Description – The description of the property. For buildings, provide the street address and a brief description of the occupancy of the building. For other property items, such as inland marine scheduled property (for lessor information), describe the item specifically.


1.Basic – Indicates the type of policy / perils insured is basic.
2.Broad– Indicates the type of policy / perils insured is broad.
3.Special – Indicates the type of policy / perils insured is special.
4.Other Peril – Indicates the type of policy / perils insured is other than those listed.
5.Describe Other Peril – The description of the type of policy issued to the insured.
6.Coverage / Perils / Forms – The description of the coverages provided, causes of loss (perils), and the forms attached (e.g., Homeowner – HO3 0792).
7.Amount of Insurance – The amount of insurance for the associated coverage.
8.Deductible – The deductible for the associated coverage.


Remarks – The additional comments or special conditions that may exist upon the policy.


1.Name and Address – The additional interest’s full name.
2.Additional Insured – Indicates the additional interest type is an additional insured.
3.Lender’s Loss Payable – Indicates the additional interest type is a lender’s loss payable.
4.Loss Payee – Indicates the additional interest type is a loss payee.
5.Mortgagee – Indicates the additional interest type is a mortgagee.
6.Other – Indicates the additional interest is other than those listed.
7.Other Description – The description of the other type of additional interest.
8.Loan # -The loan number, account number or other controlling number that the
additional interest may have assigned the insured.


Authorized Representative :Accommodates the signature of the authorized representative (e.g., producer, agent,broker, etc.) of the company listed on the document. This is required in most states.

The other related forms are ACORD 28 and 29