ACORD 23 form Vehicle or Equipment Certificate of Insurance
The ACORD 23 is the Vehicle or Equipment Certificate of Insurance (sometimes called the Automobile Certificate of Insurance) — a form that proves a specific vehicle or piece of equipment is insured. Lenders and leasing companies usually require it to confirm coverage before financing or leasing, and it is issued and signed by your insurance agent or broker. For liability across a whole business or fleet, use the ACORD 25 instead.
What is the ACORD 23 form?
It is most often required in leasing, financing, and rental transactions to protect the lender's or lessor's interest in the asset. For the wider family of forms, see what are ACORD insurance forms.
Who uses the ACORD 23?
It is mainly used by parties with a financial stake in a specific asset, including:
- Equipment leasing companies
- Commercial lenders
- Construction firms
- Trucking companies
- Fleet operators
- Equipment rental providers
Match it to your situation to know whether you need one:
| Situation | Need an ACORD 23? |
|---|---|
| Vehicle financing | Yes |
| Equipment lease | Yes |
| Construction equipment rental | Usually |
| General liability proof | No — use ACORD 25 |
| Vendor contract | No |
Why the ACORD 23 matters
- Proof of insurance — documents that a specific vehicle or piece of equipment is covered.
- Standardised format — lets a lender or lessor read the coverage without reviewing the whole policy.
- Enables transactions — commonly required to approve leasing, financing, or rental agreements.
ACORD 23 vs ACORD 25
| ACORD 23 | ACORD 25 |
|---|---|
| Vehicle / equipment insurance | Liability insurance |
| Asset-specific | Business-wide |
| Often used by lenders and lessors | Often used by clients |
| Includes VIN / serial details | Does not |
The ACORD 23 is for a single asset. Do not use it to report liability coverage on multiple vehicles under one policy — the form itself directs you to use the ACORD 25 for that. A fleet operator who needs to prove liability across vehicles needs the ACORD 25, not an ACORD 23.
When to use the ACORD 23 vs the ACORD 27 or 28
For equipment financing, some lenders prefer the ACORD 27 (personal property) or ACORD 28 (commercial property), because those forms carry more detail on property coverage. The ACORD 23 works well and is simpler for proving coverage on a single, specific vehicle or piece of equipment, but it is less commonly used for complex equipment financing — confirm which form your lender wants.
How to fill out the ACORD 23, step by step
Enter the date and the issuing agent or broker's name, address, and contact details.
The owner of the vehicle or equipment — name and mailing address, matching the leasing or financing documents.
The insurer providing coverage, with its NAIC code (the five-digit carrier identifier) if available.
Make, model, year, and VIN or serial number — matching the finance documents exactly.
Policy number, effective and expiration dates, and the coverage types in force.
Spell out coverages and limits clearly so the lender or lessor understands the protection.
State the deductible for each coverage — what the insured pays before the insurer does.
Note clauses such as loss payee or additional insured. For property protection the lender should be a lender's loss payee; if they also need liability protection, list them as additional insured too — each backed by an endorsement on the policy.
The lender, lessor, or other party receiving the certificate — verify the exact name and address.
An authorised agency representative signs and dates the form to certify the coverage.
What is a loss payee?
The loss payee is the most important designation on the ACORD 23 — it determines whether the lender actually gets paid.
- What it is — a party with a financial interest in the insured asset who is paid for a covered loss, up to their interest.
- Why lenders require it — the loan is secured by the vehicle or equipment, so if it is damaged or totalled, the lender needs the insurance proceeds to protect its collateral.
- Insured vs loss payee — the insured owns the asset and the policy; the loss payee is the financier named to receive payment.
- Loss payee vs lender's loss payee — a plain loss payee only collects when the insured can collect, so if the insurer denies the insured's claim (for example, for fraud or arson), the plain loss payee is denied too. A lender's loss payee is protected even when the insured's claim is denied for their own wrongful acts. Lenders almost always require lender's loss payee status, not a plain loss payee.
As with every ACORD certificate, these rights are only real once the matching endorsement is on the policy. The ACORD 23 reports the status; the endorsement grants it.
Coverages you may list on an ACORD 23
| Coverage | What it covers |
|---|---|
| Liability (bodily injury & property damage) | Injury or property damage you cause to others. |
| Physical damage (comprehensive & collision) | Damage to the insured vehicle or equipment — theft, fire, vandalism, animal strikes, glass, and collisions. |
| Medical payments / PIP | Medical costs after an accident; PIP can also cover lost wages and rehabilitation. |
| Uninsured / underinsured motorist | Your losses when an at-fault driver has no insurance or too little. |
| Commercial add-ons | Hired & non-owned auto, garagekeepers, motor truck cargo, gap, rental reimbursement, and towing. |
What the ACORD 23 does not do
- Does not create coverage — it reports the policy; it does not grant insurance.
- Does not replace the policy — the policy and endorsements control what is covered.
- Does not modify endorsements — it cannot change policy terms.
- Does not guarantee a claim will be paid — payment still depends on the policy.
- Does not create lender rights beyond the policy — loss payee protection comes from the endorsement, not the certificate.
Example: equipment financing
ABC Construction is financing a skid steer. The lender requires an ACORD 23, a lender's loss payee clause, and both comprehensive and collision coverage. ABC's insurance agent issues the ACORD 23 — showing the skid steer's make, model, and serial number, the coverages and limits, and the lender as lender's loss payee — and the financing proceeds.
Common ACORD 23 mistakes
- Wrong VIN or serial number.
- Missing loss payee, or a plain loss payee where the lender required lender's loss payee.
- Insufficient coverage limits.
- Expired policy dates.
- Incorrect lender name.
- Missing endorsements — the certificate alone does not grant rights.
Download the ACORD 23 form
You can download a sample ACORD 23 (Vehicle or Equipment Certificate of Insurance) PDF to see the layout. For a live, signed certificate, request it from your insurer or agent.
Frequently asked questions
Get the ACORD 23 right for a smooth transaction
Complete every section accurately and confirm the details against your finance documents — a clean ACORD 23 keeps leasing, financing, and rental deals moving.
Need more on certificates?
See the full overview of ACORD forms, the standard liability certificate, and the general certificate of insurance guide.
All ACORD forms ACORD 25 guide Certificate of insurance guide
ACORD cancellation
Homeowner right to repair for insurance. Questions? Answers.
What is the homeowner’s right to repair?
The homeowner's right to repair refers to the policyholder's option to choose their own contractors to perform repair work on their property following an insurance claim, rather than using contractors selected by the insurance company.
Why would I choose to exercise my right to repair instead of using the insurance company’s contractors?
Exercising your right to repair allows you to have more control over the quality of materials and workmanship, ensures that trusted and reputable contractors handle the repairs, and can often lead to a faster resolution as you are directly involved in managing the project.
What should be included in the request letter to the insurance company?
The request letter should include:
- Your personal and contact information.
- Details of the incident (e.g., date of the fire or flood).
- Your policy number.
- A formal request to exercise your right to repair.
- Information about the chosen contractors, including their credentials and estimates.
- An invitation for the claims adjuster to inspect the property.
How do I choose the right contractors for the repairs?
When selecting contractors, consider their experience with the specific type of damage (e.g., fire or flood), their reputation, licensing and insurance status, references from previous clients, and their ability to provide a detailed estimate and scope of work.
What if the insurance company denies my request to use my own contractors?
If the insurance company denies your request, you should ask for a detailed explanation. It may be helpful to review your policy to understand your rights and, if necessary, seek assistance from a public adjuster or legal counsel to advocate on your behalf.
Can the insurance company impose any conditions on my right to repair?
Yes, the insurance company may impose conditions such as requiring detailed estimates, using licensed and insured contractors, and ensuring that the repairs meet certain standards. It’s important to comply with these conditions to ensure your claim is processed smoothly.
What should I do if the repairs exceed the initial estimates?
Inform your insurance company as soon as you become aware of additional costs. Provide them with updated estimates and an explanation of why the additional expenses are necessary. Most policies will have a procedure for handling cost overruns, but it’s important to get prior approval from the insurer.
Can I be reimbursed for temporary living expenses while repairs are being made?
Yes, if your home is uninhabitable due to the damage, your policy may include additional living expenses (ALE) coverage, which can reimburse you for temporary housing, food, and other necessary expenses while your home is being repaired. Check your policy details and discuss this with your insurance adjuster.
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