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ACORD 25 vs. ACORD 28: Which Certificate Should Property Managers Ask For?

By SubCover HQ · Updated Oct 29, 2026 · 3 min read

Property managers deal with two kinds of insurance paperwork that look similar and do very different jobs. Asking for the wrong one is one of the most common reasons tenant and vendor files end up incomplete.

The short answer

• ACORD 25, Certificate of Liability Insurance: shows liability coverage, meaning general liability, auto, umbrella, and workers' comp. It answers "if this vendor or tenant injures someone or damages property, is there insurance to pay for it?"
• ACORD 28, Evidence of Commercial Property Insurance: shows property coverage on buildings, improvements, or business contents. It answers "if this property is damaged by fire, storm, or theft, is there insurance to repair or replace it?"

Vendors almost always owe you an ACORD 25. Commercial tenants often owe you both.

What you need from vendors

Landscapers, HVAC techs, cleaners, roofers, and other vendors should give you an ACORD 25 that shows their liability coverage, with the ownership entity and management company as additional insureds when your agreement requires it. An ACORD 28 from a vendor is rarely useful, because their property policy covers their own equipment, not your building. See COI requirements for property managers and vendors for typical limits and wording.

What you need from commercial tenants

Commercial leases commonly require tenants to carry both:

• Liability (ACORD 25): the tenant's general liability, with the landlord and manager as additional insureds, so injuries in the leased space are handled under the tenant's policy first.
• Property (ACORD 28): coverage on the tenant's business personal property and often on the improvements and betterments they've installed. Many leases also require the landlord to be shown as loss payee on improvements, and require a waiver of subrogation between landlord and tenant.

Check your lease's insurance section line by line; it should tell you exactly which coverages, limits, and endorsements to verify.

What's on an ACORD 28

The ACORD 28 lists the insured, the property location, the insurer and policy number, the policy dates, and the property coverages, such as building, business personal property, and business income, with limits and deductibles. It also has a section for additional interests, where a landlord or lender can be shown as loss payee, mortgagee, or another interest. Like the ACORD 25, it's evidence of insurance, not the policy itself, so it doesn't change the coverage.

Residential properties

For residential renters' and homeowners' insurance, you may see the ACORD 27, Evidence of Property Insurance, or simply a declarations page or an interested-party notice from the renters' insurance carrier. Residential property managers usually care most that the tenant has liability coverage and that the manager is listed as an interested party so they hear about cancellations.

Common mistakes

• Accepting an ACORD 28 from a vendor in place of the liability certificate you actually need.
• Collecting a tenant's ACORD 25 but never asking for property evidence the lease requires.
• Listing the landlord as "certificate holder" on an ACORD 28 when the lease requires loss payee status.
• Tracking one expiration date per tenant when their liability and property policies renew separately.

Quick checklist

• Vendors: ACORD 25 with required limits, additional insured, and waiver if required.
• Commercial tenants: ACORD 25 for liability, plus ACORD 28 for property if the lease requires it.
• Names on every form match the lease or vendor agreement exactly.
• Each policy's expiration date tracked separately, with renewals requested 30 days out.

To read the liability side in detail, see how to read an ACORD 25. To track everything in one place, try the free COI expiration tracker, or let SubCover HQ collect and check tenant and vendor certificates for you.

This guide is general information, not insurance or legal advice. ACORD is a trademark of ACORD Corporation; SubCover HQ is not affiliated with ACORD. Your leases, contracts, insurance professional, and attorney determine what you should require.