Insurance Requirements

TITLED OR OVER $250K – REQUIRED PRIOR TO FUNDING

 

HOW WE SHOULD BE NAMED:

Amur Equipment Finance, Inc. and ISAOIA

308 North Locust Street, Suite 100

Grand Island, NE 68801

 

OUR INTEREST:

• Property Insurance: Lender’s Loss Payee

• Liability Insurance: Additional Insured

 

COVERAGE REQUIREMENTS:

• Property Insurance: The insured value of the Equipment we are financing needs to be equivalent to at least its invoice price. Any Additional Collateral can be covered at its current insured value.

- Include Special Form for Coverage for Theft

- Include Comprehensive and Collision Insurance for any titled Collateral

• Liability Insurance: Minimum $1,000,000 per occurrence

• Equipment financed plus any additional collateral must be listed on certificate w/serial numbers

• Maximum deductible $1,000.00 up to equipment value of $250,000, higher deductibles allowed for larger transaction sizes and/or businesses

 

POLICY COVERAGE PERIOD:

• If you are a first-time purchaser of insurance expressly for the Equipment, we require a minimum six-month term starting from our last Funding date.

• If you have purchased insurance before, we recommend you always sign up for at least a 12-month term.

 

NOTICE REQUIREMENT:

We need minimum thirty (30) days’ written notice by your insurance carrier prior to any modification, cancellation or expiration of any insurance policy.

 

NON-TITLED UP TO $250K – REQUIRED AFTER FUNDING

 

HOW WE SHOULD BE NAMED:

Amur Equipment Finance, Inc. and ISAOIA

c/o Commercial Tracking Services

PO BOX 979285

Miami, FL  33197-9285

 

OUR INTEREST:

• Property Insurance: Lender’s Loss Payee

• Liability Insurance: Additional Insured

 

COVERAGE REQUIREMENTS:

• Property Insurance: The insured value of the Equipment we are financing needs to be equivalent to at least its invoice price. Any Additional Collateral can be covered at its current insured value.

- Include Special Form for Coverage for Theft

• Liability Insurance: Minimum $1,000,000 per occurrence

• Equipment financed plus any additional collateral must be listed on certificate w/ serial numbers.

• Maximum deductible $1,000.00 up to equipment value of $250,000, higher deductibles allowed for larger transaction sized and/or businesses.

 

 

POLICY COVERAGE PERIOD:

• If you are a first-time purchaser of insurance expressly for the Equipment, we require a minimum six-month term starting from our last Funding date.

• If you have purchased insurance before, we recommend you always sign up for at least a 12-month term.

 

NOTICE REQUIREMENT:

We need minimum thirty (30) days’ written notice by your insurance carrier prior to any modification, cancellation or expiration of any insurance policy.