ACORD 152 Inland Marine Certificate – Fillable PDF Download
Commercial Inland Marine Section
The ACORD 152 Certificate of Inland Marine Insurance is commonly used to verify coverage for movable business property, tools, and equipment when proof is required.
Form Type: Supplemental
Edition: 2015/06
Category: Inland Marine
Attaches To: ACORD 125
Download ACORD 125 Fillable Form
Free fillable PDF – Current edition
What is ACORD 152 Commercial Inland Marine Section?
ACORD 152 is the standardized application for Commercial Inland Marine insurance – specialized coverage for movable property, equipment, tools, and other portable business assets that standard commercial property policies don’t adequately cover.
This form is used to apply for coverage of:
- Contractor’s Equipment – Heavy machinery, tools, scaffolding
- Mobile Equipment – Non-licensed vehicles and specialized equipment
- Tools and Instruments – Professional tools, testing equipment
- Installation Floaters – Property during installation/transit
- Property in Transit – Goods being transported
- Valuable Papers – Blueprints, designs, documents
- Electronic Equipment – Computers, servers, specialized devices
📊 Coverage Statistics
Over $50 billion in commercial inland marine premiums are written annually in the United States. This coverage is essential for contractors, construction companies, manufacturers, and any business with valuable mobile equipment.
Why It’s Called “Inland Marine”
Despite the name, inland marine insurance has little to do with water or boats. The term comes from the insurance industry’s history:
- Historical Origin: Originally covered cargo transported between ports
- Modern Evolution: Expanded to cover all types of movable property
- Current Use: Protects equipment and property that moves or is transportable
- Key Difference: Covers property “on the move” vs fixed location property insurance
Relationship to ACORD 125
⚠️ Important: Supplemental Form
ACORD 152 attaches to ACORD 125 (Commercial Insurance Application). It is NOT a standalone form. You must complete ACORD 125 first with general business information, then use ACORD 152 to provide detailed inland marine coverage specifics.
Coverage Purpose and Protection
🚚 On-Location Coverage
Protects equipment at jobsites, customer locations, or anywhere in use – not just at your business premises.
🛣️ Transit Protection
Covers equipment being transported between locations, including while loaded on trucks or trailers.
💰 Replacement Value
Typically provides replacement cost coverage, not depreciated actual cash value like some property policies.
🌍 Broad Coverage Territory
Usually covers equipment anywhere in the US, and can be extended internationally if needed.
When You Need ACORD 152
Inland marine insurance is essential for businesses whose valuable equipment isn’t adequately covered by standard commercial property policies.
Industries That Need This Coverage
🏗️ Construction & Contractors
- General contractors with expensive tools and equipment
- Excavation contractors (bulldozers, backhoes, loaders)
- Electrical contractors (wire pullers, testing equipment)
- Plumbing contractors (trenchers, pipe equipment)
- HVAC contractors (specialized installation tools)
- Roofing contractors (lifts, sprayers, compressors)
🏭 Manufacturing & Industrial
- Mobile manufacturing equipment
- Quality control instruments
- Testing and measuring devices
- Portable generators and power equipment
- Specialized production machinery
- Employee tools and equipment
💻 Technology & Professional Services
- IT consultants with computer equipment
- Surveyors and engineers (theodolites, GPS equipment)
- Medical equipment (portable diagnostic tools)
- Audio/visual equipment for events
- Photography and video equipment
- Scientific and laboratory instruments
🚜 Agriculture & Landscaping
- Landscaping equipment (mowers, trimmers, blowers)
- Agricultural equipment away from farm
- Tree service equipment
- Irrigation equipment
- Portable farm machinery
- Specialized harvesting equipment
Specific Situations Requiring Coverage
Equipment Leaves Your Premises
Standard commercial property policies typically only cover equipment at your business location. Once it leaves, coverage often ends.
Rented or Leased Equipment
When you rent expensive equipment, rental companies require proof of inland marine coverage or will charge you expensive damage waivers.
Contractor Requirements
General contractors often require subcontractors to have inland marine coverage for their tools and equipment.
Transit and Delivery
When shipping or delivering equipment to customers, standard policies won’t cover damage or theft in transit.
🚫 What Happens Without Inland Marine Coverage
- Massive Coverage Gaps: Equipment stolen from jobsite or vehicle – NO coverage
- Equipment Damage in Transit: Accident while transporting equipment – NO coverage
- Off-Premises Theft: Tools stolen from hotel room or storage facility – NO coverage
- Rental Equipment Damage: Personally liable for full replacement cost ($50,000+ for heavy equipment)
- Contract Breach: Cannot meet contractual insurance requirements, lose contracts
- Business Interruption: Lost income while waiting to replace uninsured equipment
How to Fill Out ACORD 152 PDF – Step-by-Step
Before You Begin – Required Information
📋 Gather This Information
- Equipment Inventory: Complete list of all equipment needing coverage
- Serial Numbers: VIN or serial number for each piece of equipment
- Purchase Documents: Invoices, bills of sale showing acquisition cost
- Current Values: Appraisals or current replacement cost estimates
- Loan Documents: If financed, lender name, account numbers, balances
- Storage Information: Where equipment is kept, security measures
- Operations Details: Where you use equipment, rental information
- Loss History: Prior equipment claims (past 5 years)
Step 1: Complete ACORD 125 First (30 minutes)
CRITICAL: ACORD 152 is a supplemental form. You must complete ACORD 125 (Commercial Insurance Application) first with your general business information:
- Business legal name and address
- Years in business
- Number of employees
- Annual revenues
- Loss history
- Desired coverages
Step 2: Header Information (5 minutes)
- Leave AGENCY, CARRIER, NAIC CODE blank – your agent completes these
- POLICY NUMBER – Leave blank for new coverage (carrier assigns)
- EFFECTIVE DATE – When you want coverage to start (MM/DD/YYYY)
- APPLICANT – Your business legal name exactly as on ACORD 125
Step 3: Coverages Section (15 minutes)
Work with your agent on this section – it’s technical:
- Determine coverage type: Basic (named perils), Broad, or Special (all-risk)
- Set limit for each schedule (total insured value)
- Choose deductible ($500, $1,000, $2,500, $5,000)
- Add optional coverages if needed (flood, earthquake)
✓ Coverage Type Recommendations
Special Form (All-Risk): Best protection. Covers all perils except specifically excluded. Recommended for valuable equipment ($50,000+).
Broad Form: Middle ground. Covers major perils. Good for moderate-value equipment.
Basic Form: Named perils only. Cheapest but most restricted. Only for low-value equipment.
Step 4: Equipment Storage (10 minutes)
- List primary storage location (LOC #, BLD #)
- Estimate months per year stored there
- Calculate maximum value stored inside buildings
- Calculate maximum value stored outside
- Describe security: “Fenced yard with locked gate, building has alarm system”
Step 5: Additional Interests (15 minutes)
For each financed or leased piece of equipment:
- Check LIENHOLDER or LOSS PAYEE
- Enter lender’s complete legal name and address
- Specify which ITEM NUMBER they have interest in
- Enter loan/lease account number
- Amount still owed on equipment
- Rank (1st if only lender, 2nd if secondary financing)
⚠️ Don’t Skip Lenders
Lenders require they be listed on the policy. If you skip this and have a claim, insurance pays YOU, not the lender. This violates your loan agreement and lender can demand immediate full payment of loan balance.
Step 6: Review and Sign (10 minutes)
✓ Final Review Checklist
- ☑ All equipment listed (nothing missing)
- ☑ Serial numbers verified against actual equipment
- ☑ Values current and accurate
- ☑ Lenders/lessors all listed with correct information
- ☑ All questions answered honestly
- ☑ Security and storage information accurate
- ☑ Rental/leased equipment disclosed
- ☑ Signature and date completed
Signature Requirements:
- Must be signed by authorized company representative (owner, officer, manager)
- Producer (insurance agent) also signs
- Date when signed
- Keep copy for your records
Ready to Download ACORD 152 Inland Marine Certificate?
Get the official fillable ACORD 152 PDF to show commercial inland marine insurance coverage instantly.
Frequently Asked Questions
What’s the difference between inland marine and commercial property insurance?
Commercial Property: Covers property at fixed locations listed on policy. Limited or no coverage once property leaves premises. Inland Marine: Covers property wherever it goes – at jobsites, in transit, at customer locations, nationwide. Designed for mobile equipment and property that moves.
Do I need inland marine if I have a BOP (Business Owners Policy)?
Usually YES. BOPs have very limited off-premises coverage (typically $10,000 max). If you have valuable equipment that leaves your business location, you need separate inland marine coverage. Your $50,000 equipment is only covered for $10,000 under most BOPs when away from premises.
What does “scheduled” vs “blanket” coverage mean?
Scheduled: Each item individually listed with specific agreed value. Best for expensive equipment ($10,000+). No coinsurance penalty. Easier claims – carrier already agreed on value. Blanket: Category of equipment covered for total amount. Must prove values at claim time. Subject to coinsurance. Easier for many low-value items.
How much does inland marine insurance cost?
Typically $0.50 to $3.00 per $100 of coverage annually, depending on equipment type, security, deductible, and coverage territory. Example: $100,000 in contractors equipment might cost $1,000-2,000/year. High-theft items (computers, tools) cost more. Heavy equipment in secured yards costs less.
Is employee-owned tools covered?
Not automatically. Standard policies cover only company-owned equipment. If employees bring personal tools that you’re responsible for, you need specific “employee tools” coverage or blanket coverage that extends to employee-owned items. Be explicit about this need when applying.
What’s NOT covered by inland marine insurance?
Common exclusions: Wear and tear, mechanical breakdown, manufacturer defects, intentional damage, war, nuclear events, fraud/dishonesty, unexplained disappearance (unless mysterious disappearance coverage added), vehicles licensed for road use (need commercial auto), aircraft, watercraft (need specific marine coverage).
Can I get coverage for equipment used in other countries?
Standard policies cover US, Canada, Puerto Rico. Coverage in Mexico and other countries requires specific extension and additional premium. Working in high-risk countries may be declined or require specialized foreign coverage. Always disclose international operations before purchasing.
What if equipment values increase – do I need to update?
YES – annually review and update values. Equipment often appreciates due to inflation, supply shortages, or market conditions. Outdated values trigger coinsurance penalties. Set calendar reminder to review values with agent every renewal.
Do I need inland marine if I mostly rent equipment?
ABSOLUTELY. This is when you need it most. Rental companies make you liable for damage or theft. Their “damage waiver” costs $50-200 PER DAY. Annual inland marine coverage for “rented equipment” costs $500-2,000 and covers ALL rentals. Pays for itself after one incident.
Is theft from vehicle covered?
Usually YES, but depends on policy terms. Some policies require locked vehicle, tools in locked compartment, or out of sight. Theft from unattended unlocked vehicle may not be covered. Read policy carefully and follow requirements to avoid claim denials.
Do I need flood/earthquake coverage?
What’s a “deductible” and how should I choose?Standard inland marine covers fire, theft, vandalism, collision, overturn – but EXCLUDES flood and earthquake unless specifically added. If equipment stored or used in flood zones or earthquake areas, strongly consider adding these coverages. Relatively inexpensive additions.
What happens if I don’t schedule high-value items?
Problems at claim time. Blanket coverage requires proof of value. Without purchase receipts, appraisals, or documentation, carrier may only pay depreciated value or dispute value entirely. Items over $10,000-25,000 should always be scheduled with agreed value.