The Bailey Company

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Forklifts & Trucks-Rental, Forklifts & Trucks, Forklifts & Trucks-Repair

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Today: 8:00 am - 5:00 pm

Tomorrow: 8:00 am - 5:00 pm

75 Years

in Business

Accredited

Business

(931) 444-1920Call Map & DirectionsDirections501 Cowan StNashville, TN 37207 Write a ReviewWrite Review

Hours

Regular Hours

Mon - Fri:	8:00 am - 5:00 pm
Sat - Sun	Closed

The Bailey Company

Personal

Liability Insurance
Lessee shall obtain and maintain for the entire term of the Lease, at its own expense (as primary insurance for Lessor and Lessee), property damage and commercial general liability insurance and insurance against loss or damage to the Equipment including, without limitation, loss by fire (including so-called extended coverage), theft, collision and such other risks of loss as are customarily insured against on the type of Equipment leased hereunder and by businesses in which Lessee is engaged, in such amounts, in such form and with such insurers as shall be reasonably satisfactory to Lessor provided, however, that (i) the amount of commercial general liability insurance coverage shall not be less than $1,000,000 and (ii) the amount of insurance against loss or damage to the Equipment shall be no less than the greater of the replacement cost or fair market value of the Equipment. Each insurance policy will name Lessee as an insured and Lessor as an additional insured and loss payee thereof as Lessor’s interests may appear, shall contain cross-liability endorsements and shall contain a clause requiring the insurer to give Lessor at least 30 days prior written notice of any material alteration in the terms of such policy or of the cancellation thereof. Lessee shall furnish to Lessor a certificate of insurance or other evidence satisfactory to Lessor that such insurance coverage is in effect, provided, however, that Lessor shall be under no duty either to ascertain the existence of or to examine such insurance policy or to advise Lessee in the event such insurance coverage shall not comply with the requirements hereof. Lessee further agrees to give Lessor prompt notice of any damage to, or loss of, the Equipment, or any part thereof; all insurance covering loss or damage to the Equipment shall contain a breach of warranty clause satisfactory to Lessor. In the event Lessee fails to obtain insurance in accordance with this provision, the lessor may, at its option, obtain the insurance or declare Lessee’s failure an event of default. In the event that Lessor obtains insurance, it shall be entitled to prompt reimbursement from the Lessee of the costs, including reasonable administrative costs, of doing so.

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