ACORD 1 — Property Loss Notice

Edition 2008/10 · PDF format

Standard form for reporting property damage claims to insurance carriers. Captures loss date, cause, description of damage, estimated amounts, and police/fire department information.

What is ACORD 1?

ACORD 1 (Property Loss Notice) is the standard form for reporting a property damage claim to an insurance carrier. It captures the basic facts the carrier needs to open a claim file: when the loss occurred, what was damaged, the cause, an estimate, and contact information.

Most agency management systems generate the ACORD 1 from the broker's customer record and submit it electronically to the carrier. The form initiates the claim-handling process.

Who needs this form

Brokers and insureds reporting property losses (fire, water, wind, theft, vandalism, etc.) to carriers.

When to use it

Submit ACORD 1 immediately after a property loss is discovered. Most policies require 'prompt notice,' which courts have generally interpreted as within 24–72 hours of discovery for serious losses.

Key Fields on ACORD 1

The information the form captures, in the order it typically appears:

Producer information
Insured name, address, contact phone
Carrier and policy number
Date and time of loss
Location of loss
Type of loss (fire, water, theft, etc.)
Description of property damaged
Estimated dollar amount
Police/fire department reports (if applicable)
Witness information

Common Mistakes

Recurring errors that delay processing or expose brokers to E&O claims:

Delayed reporting

Late notice is a common claims defense by carriers. Report within 24 hours when possible, even before the insured has full information.

Inflated initial estimates

The estimate on ACORD 1 should be the insured's best preliminary number. Inflating it can damage credibility with the adjuster.

Frequently Asked Questions

Do I need an ACORD 1 if I already called the carrier?

Yes. The ACORD 1 documents the notice in writing and provides the carrier with the structured data their claims system needs. Verbal notice alone is rarely sufficient under most policies.

What if the cause of loss is unclear?

Report what's known: 'water damage, source under investigation.' The adjuster will determine the proximate cause during the investigation. Don't speculate.

Related ACORD Forms

ACORD 2