Free template
Statement of values templates for commercial property
Three Excel SOVs built from what underwriters actually ask for: Basic, Advanced (COPE), and Coastal / CAT. Dropdowns, a field guide, and the totals calculated for you.
The short answer
A statement of values (SOV) lists every insured building with its address, construction, occupancy, protection, and replacement cost, business personal property, and business income values. Carriers price property insurance from it. Use one row per building, enter replacement cost rather than market value, and update it about 120 days before each renewal.
General information, not legal, tax, or coverage advice. What's covered depends on your specific policy wording, and the policy controls. Current as of October 2026.
Get the templates
Basic, Advanced, and Coastal / CAT. Excel format.
Which one
Three templates, one row per building
Each one builds on the last. Pick the one that matches how your property gets priced, not how big the portfolio is.
23 columns
Basic
A single property or a small portfolio outside the coastal wind belt.
- Address, occupancy, ISO construction class, year built, stories, square footage, units
- Building, contents, business income, and other values, with TIV and $ / sq ft calculated
- Sprinklers and roof year
54 columns
Advanced (COPE)
Portfolios, habitational accounts, and anything going to market with several carriers.
- Everything in Basic, plus named insured, lender, and occupancy detail
- Roof covering and shape, electrical, plumbing, and HVAC updates, with red-flag highlighting
- Fire alarm, protection class, valuation basis and date, and a $ / sq ft check you set
72 columns
Coastal / CAT Exposed
Gulf and Atlantic coast property, and any account priced off a hurricane or flood model.
- Everything in Advanced, plus latitude, longitude, distance to coast, elevation, and flood zone
- Roof deck attachment, roof-to-wall connection, opening protection, and IBHS FORTIFIED
- A CAT Summary tab: TIV by distance to coast, flood zone, construction, and roof age
Every template has a Start Here tab with a field guide that explains each column and why an underwriter asks for it, plus a filled-in example row that stays out of the totals.
Get all threeWhy it matters
The SOV sets your price and your recovery
The underwriter never walks your property. As far as pricing goes, the SOV is the property. A complete one gets quoted. A thin one gets a list of questions back, or a quote built on assumptions.
It also decides what a claim pays. Say a building is scheduled at $8 million and would cost $10 million to rebuild. With a 90% coinsurance clause, you needed to carry $9 million. A $1 million fire pays $8M ÷ $9M of the loss: about $889,000, before the deductible. Run your own numbers in the coinsurance penalty calculator, or check a building's value with the replacement cost estimator.
On the coast, the stakes go up. Hurricane models price each building from its location and wind features. Leave roof deck attachment or opening protection blank and the model assumes the worst case. That's why the Coastal / CAT template carries those fields, and why the wind deductible buy-down market asks for them too.
Five SOV mistakes that cost owners money
01
Market value in the building column
Purchase price, appraised market value, and the tax assessment all include land and all move with cap rates. Replacement cost is what it takes to rebuild the structure today. Use the wrong one and you're either paying for value you can't collect or carrying a coinsurance problem you don't know about.
02
One row for a 14-building property
Carriers rate, set deductibles, and pay claims by building. A single row with a combined value forces the underwriter to guess at the split, and they guess conservatively.
03
Blanks where the answer is unknown
An underwriter reads a blank roof year as an old roof. A catastrophe model reads a blank opening protection field as no protection. Write Unknown and say why. It reads better than silence.
04
Last year's values with this year's date
Building costs move every year. A schedule rolled forward without a trend factor or a fresh estimate drifts low, and the gap shows up at claim time.
05
A ZIP code instead of a rooftop
On the coast, a quarter mile changes the storm surge and wind numbers. Latitude and longitude for each building let the model price your building instead of the worst one in the ZIP.
Questions
Statement of values FAQ
What is a statement of values?
A statement of values (SOV) is a spreadsheet listing every insured building with its address, construction, occupancy, protection, and values: building replacement cost, business personal property, and business income. Carriers price property insurance from it, and the totals become your limits.
Is an SOV the same as ACORD 139?
ACORD 139 is the industry's standard statement of values form. Most carriers and wholesalers accept a spreadsheet with the same information, and a spreadsheet handles large portfolios better. Some carriers still ask for their own form, so your broker may move the data onto it.
What is TIV on a statement of values?
Total insured value: building plus business personal property plus business income plus other scheduled property, per building and for the whole schedule. Carriers use it to size the program, and wind and named storm deductibles are often a percentage of it.
How often should I update my SOV?
At least once a year, about 120 days before renewal, and any time you buy, sell, or renovate a building. Trend building values for construction cost changes, and get a third-party appraisal every three to five years.
Which template should I use?
Basic covers what every carrier asks for. Use Advanced for portfolios and habitational accounts going to several markets. Use Coastal / CAT for property near the Gulf or Atlantic coast, or anything priced off a hurricane or flood model.
Keeping the SOV with the rest of your renewal file? The insurance document checklist shows where it fits.
Working with us
Filled it in? Get it read before it goes to market
Dan will read your SOV the way an underwriter would: missing fields, values that look low for the construction, and anything likely to draw a surcharge or a follow-up question. Better to fix it now than to explain it after the quote comes back.
Send your renewal date below. On the last step, you can attach the finished SOV.
This article is for general educational purposes only. It isn't legal, tax, accounting, or lending advice and doesn't create a producer–client relationship. Policy terms, exclusions, and availability vary by carrier, state, and property. Only the policy actually issued determines coverage. Regulatory and lender requirements change; confirm current rules with your attorney, lender, or servicer before relying on anything here.
Free renewal review
Get a second set of eyes on your SOV
We'll reply within one business day with when to start marketing it and what to have ready. Built for accounts with $50,000+ in annual premium.
- A second set of expert eyes on your program, free.
- Marketed to the carriers that actually want your risk.
- No obligation, fully confidential.
Book 20 minutes or call (205) 999-4884