ACORD 160

Templates

ACORD 160

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Insurance

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Datapoint

Description

This is some text inside of a div block.

Building Description

Details about the structure including type and use (e.g., office, retail, warehouse).

Construction Type

Materials and methods used in building construction (e.g., wood frame, masonry).

Year Built

The year the building was constructed or last renovated.

Square Footage

Total floor area of the insured property.

Occupancy Type

How the property is used or occupied (e.g., owner-occupied, tenant-occupied).

Replacement Cost

Estimated cost to rebuild or replace the property in case of loss.

Coverage Amounts

Limits of insurance for building, contents, and additional coverages.

Deductibles

Amounts the insured pays before coverage applies.

Protection Class

Fire protection rating or classification affecting premiums.

Alarm and Fire Protection

Details on fire alarms, sprinklers, and other safety systems installed.

The ACORD 160 form supports Business Owners Policy (BOP) underwriting by capturing key details about insured properties and their associated risks. Feathery’s AI extracts structured data such as building descriptions, construction type, year built, occupancy, and square footage to ensure accurate property assessments. It also pulls coverage details including replacement costs, deductibles, and insurance limits, along with property protection features like fire classification and alarm systems.

This template is particularly useful for insurers, brokers, and underwriters evaluating small and mid-sized commercial properties. Automating the extraction of ACORD 160 data reduces manual review errors, speeds up premium calculations, and ensures more precise risk assessment. With instant access to property, coverage, and protection data, insurers can streamline underwriting decisions and provide faster, more accurate quotes to policyholders.

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