Your lease contract may require you to have insurance that protects the equipment against all risks of loss. There are two options available to you:
- Either you can cover the equipment under an existing commercial policy and provide us with proof of that coverage, or
- We will secure coverage for Peac Solutions’s interest in the equipment* and bill you a fee for such coverage. This fee is called an Insurance Fee.
If you are required to have your equipment insured, you will receive a letter from our Insurance Service Center that will explain your options in more detail. For complete details, please contact our Insurance Department at 877-733-4433.
*We will be the beneficiary of this coverage and will be the insured party under a master insurance policy.