Insurance
What is the minimum limit required for the liability insurance?
Frequently Asked Questions
Should the lessee have insurance for loss or damage to the property?It is strongly advised that the property should be insured. It is common practice for the lessee to have to get such insurance.Should the lessee have insurance for public liability and property damage?This type of insurance will indemnify individuals or property that are injured or damaged by the lessee's use of the leased property. The lessee is advised to obtain this form of insurance only if the leased property can conceivably cause damage to other people or property. For example, this type of insurance may not be necessary for a leased watch, but should be obtained for a leased automobile.