What kind of insurance does Mesa Leasing require on the equipment?
If the equipment is being leased, we will require Mesa Leasing be added to their policy as an additional insured for liability and as Loss Payee for that specific piece of equipment. For equipment being used as additional collateral, we only require that Mesa Leasing be the Loss Payee. If the contract being written is an EFA, Mesa Leasing only requires we be the Loss Payee as we are the lien holder and not owner of the equipment.
Related Questions
- Why do banks and equipment leasing organizations look at personal credit and require personal guarantees from business owners?
- Why do banks and equipment leasing companies look at personal credit and require personal guarantees from business owners?
- Does Mesa Leasing offer Equipment Finance Agreements (EFA)?
