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What if the asset(s) is/are lost, stolen, damaged or destroyed or become subject to a total loss claim during the period of the lease?

April 26, 2017ASSET claim damaged destroyed loss Lost s stolen Subject total

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What if the asset(s) is/are lost, stolen, damaged or destroyed or become subject to a total loss claim during the period of the lease?

1 Answer

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You are responsible for the asset(s) and for any outstanding balance on the agreement. Comprehensive insurance, covering at least the full replacement cost of the asset(s), is therefore mandatory.