Titled or Over $250K – Required Prior to Funding
HOW WE SHOULD BE NAMED:
Amur Equipment Finance, Inc. and ISAOIA
PO Box 202136
Florence, SC 29502-2136
Non-Titled up to $250K – Required After Funding
HOW WE SHOULD BE NAMED:
Amur Equipment Finance, Inc. and ISAOIA
PO Box 202136
Florence, SC 29502-2136
Our Interest
• Property Insurance: Lender’s Loss Payee
• Liability Insurance: Additional Insured
Coverage Requirements
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
- 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
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.
- 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 Requirements
Titled or Over $250K
We need minimum thirty (30) days’ written notice by your insurance carrier prior to any modification, cancellation or expiration of any insurance policy.