In one sentence
The standard evidence of commercial property insurance, showing property coverage and lender interests.
The longer version
The ACORD 28 evidences property coverage and reflects the lender's mortgagee and loss-payable status. Together with the ACORD 25 for liability, it forms the core of insurance evidence at closing.
Property coverage adequacy, replacement cost, and the correct lender clauses are what review confirms here.
Common questions
- What is an ACORD 28?
- The standard evidence of commercial property insurance form, showing property coverage, limits and the lender's interest as mortgagee or loss payee.
- What is the difference between ACORD 25 and ACORD 28?
- ACORD 25 evidences liability coverage. ACORD 28 evidences property coverage and identifies the lender's mortgagee interest.
- What should a lender check on an ACORD 28?
- That the property is described correctly, coverage and limits meet requirements, the lender is named as mortgagee with a standard mortgagee clause, and the policy dates are current.
Keep reading
- The due diligence checklist, built to be runChecklists as systems, not documents.
- The commercial loan closing checklistWhat goes on the list and who owns each line.
- The post-closing audit trailWhat examiners ask for and how to have it ready.
- Commercial loan softwareWhere this sits in the lending stack.