• Special form insurance, subject to standard policy exclusions, that protects against direct physical loss or damage to the equipment/titled vehicle.

  Examples of Covered Causes of Loss Include:
  Theft, burglary and robbery, windstorm, hurricane and tornado, vandalism, accidental damage, fire, water damage, flood and lightning

• Provides repair or full replacement of the equipment/titled vehicle with similar kind and quality equipment/titled vehicle up to the original value under the same lease, or payment to the funder on a stipulated loss value basis.
• Low deductible of $250.00 per occurrence for all causes of loss, except $1,000 for flood.
• Insurance Charge remains the same for the term of the lease. No annual renewals.
• Liability coverage of $1,000,000 (when selected at lease origination) for both bodily injury and property damage resulting from use of the equipment protecting the broker and funder only. (This liability coverage does not apply to titled vehicles.)
• Equipment/Titled vehicle is covered while located anywhere in the United States, Puerto Rico and Canada.
• Coverage limit of $500,000 per lease transaction and a lease term limit of 84 months.

Leased Property Not Covered

Leased property not insured includes, among others: equipment that is waterborne; aircraft or watercraft; equipment used in mining, logging, oil or gas explorations or processing; underground equipment.