CONTENTS PROTECTION. Notwithstanding Section 5, in lieu of obtaining insurance, Renter may choose to have Company contractually (a) assume responsibility for specified loss (subject to applicable exclusions) resulting from certain named perils (such as fire, wind, hail, smoke, collapse of building, burglary, etc.) (“Named Perils”), and (b) obtain insurance protecting Renter’s contents from such loss with an insurance company rated no less than “A” (excellent) by A.M. Best Co (the “Contents Protection”). The terms and conditions of Contents Protection are published in the Contents Protection/Duty to Insure Addendum and can be found at (the “CP Addendum”). Such terms and conditions establish and clarify the contractual liabilities of each party if Renter orders Contents Protection from Company and makes all additional payments thereunder. Renter may choose to obtain supplemental insurance from their own homeowner’s or renter’s carrier or Renter may elect to be “self insured.” If Renter elects to have Contents Protection, (i) Company’s role is expanded to a recipient of goods for safekeeping in its possession or care custody and control, but only to the extent of being contractually responsible for specified loss and obtaining insurance protecting Renter’s contents from such loss, and only to the extent such insurance is collectible; (ii) Renter shall be a loss payee and third party beneficiary to all proceeds recoverable under the insurance policy; (iii) Company’s obligation to assume the risk of loss under the Contents Protection resulting from Named Perils shall not exceed the limit of coverage secured by Renter under the CP Addendum; and (iv) Container Only Option Protection shall apply, which is further described below. Although Company and Company’s Agents may share information about the insurance policy purchased by the Company with Renter, Renter understands that Company and Company’s Agents are not an insurance company or insurance agents. Company has not explained any coverage or assisted Renter in making any decision to purchase any particular insurance policy. Company is not making any representations about the coverage provided by such insurance policy. Company’s agreement to assume responsibility for and obtain insurance protecting Renter’s contents from loss is not an insurance transaction.
CONTENTS PROTECTION. Notwithstanding Section 5, in lieu of obtaining insurance, Customer may choose to have Company contractually (a) assume responsibility for specified loss (subject to applicable exclusions) resulting from certain named perils (such as fire, wind, hail, smoke, collapse of building, burglary, etc.) (“Named Perils”), and (b) obtain insurance protecting Customer’s contents from such loss with an insurance company rated no less than “A” (excellent) by A.M. Best Co (the “Contents Protection”). The terms and conditions set forth in Section 44 of this Agreement shall establish and clarify the contractual liabilities of each party if Customer orders Contents Protection from Company and makes all additional payments thereunder.
CONTENTS PROTECTION. Notwithstanding Section 5, in lieu of obtaining insurance, Customer may choose to have Company contractually (a) assume responsibility for specified loss (subject to applicable exclusions) resulting from certain named perils (such as fire, wind, hail, smoke, collapse of building, burglary, etc.) (“Named Perils”), and
CONTENTS PROTECTION. Notwithstanding Section 5, in lieu of obtaining insurance, Customer may choose to have Company contractually (a) assume responsibility for specified loss (subject to applicable exclusions) resulting from certain named perils (such as fire, wind, hail, smoke, collapse of building, burglary, etc.) (“Named Perils”), and (b) obtain insurance protecting Customer’s contents from such loss with an insurance company rated no less than “A” (excellent) by A.M. Best Co (the “Contents Protection”). The terms and conditions of Contents Protection are set forth in the Contents Protection/Duty to Insure Addendum, which can be found at xxx.xxxx.xxx/XXX (the “CP Addendum”). Such terms and conditions establish and clarify the contractual liabilities of each party if Customer orders Contents Protection from Company and makes all additional payments thereunder. Customer may choose to obtain supplemental insurance from their own homeowner’s or renter’s carrier or Customer may elect to be “self insured.” If Customer elects to have Contents Protection, (i) Company’s role is expanded to a recipient of goods for safekeeping in its possession or care custody and control, but only to the extent of being contractually responsible for specified loss and obtaining insurance protecting Customer’s contents from such loss, and only to the extent such insurance is collectible;
