Common use of Fleet Insurance Clause in Contracts

Fleet Insurance. Each Lessee shall at all times maintain or cause to be maintained, with financially sound and reputable insurers, (a) personal injury and damage insurance with respect to the Vehicles leased by such Lessee hereunder, and (b) insurance with respect to properties and business against loss or damage of the kinds customarily insured against by corporations of established reputation engaged in the same or similar businesses and similarly situated, of such types and in such amounts as are customarily carried under similar circumstances by such other corporations. Each Lessee may, in lieu of maintaining such insurance with insurers, self-insure.