{"id":21138,"date":"2023-06-07T09:32:10","date_gmt":"2023-06-07T09:32:10","guid":{"rendered":"https:\/\/swoopfunding.com\/us\/?page_id=21138"},"modified":"2024-02-14T12:34:08","modified_gmt":"2024-02-14T12:34:08","slug":"equipment-finance-insurance","status":"publish","type":"page","link":"https:\/\/swoopfunding.com\/us\/business-loans\/asset-finance\/equipment-financing\/equipment-finance-insurance\/","title":{"rendered":"Equipment finance insurance"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"21138\" class=\"elementor elementor-21138\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-27496526 elementor-section-height-min-height elementor-section-boxed elementor-section-height-default elementor-section-items-middle\" data-id=\"27496526\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-230f076f\" data-id=\"230f076f\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-23fe4f7d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"23fe4f7d\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-220aa52f\" data-id=\"220aa52f\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-63b25c9a elementor-widget elementor-widget-heading\" data-id=\"63b25c9a\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">Equipment finance insurance<\/h1>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3a2e8228 elementor-widget elementor-widget-heading\" data-id=\"3a2e8228\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<p class=\"elementor-heading-title elementor-size-default\">Leasing or financing business equipment and vehicles instead of paying for them with valuable working capital makes good business sense.<\/p>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-355ee8d0 elementor-widget elementor-widget-spacer\" data-id=\"355ee8d0\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-52c7e1bd elementor-align-center elementor-widget elementor-widget-button\" data-id=\"52c7e1bd\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/us.swoopfunding.ca\/stage\/\" target=\"_blank\" rel=\"noopener\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t<span class=\"elementor-button-text\">Apply now<\/span>\n\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-7f6c2f61 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7f6c2f61\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-60f35fa2\" data-id=\"60f35fa2\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-ddc4407 elementor-widget elementor-widget-ucaddon_breadcrumbs\" data-id=\"ddc4407\" data-element_type=\"widget\" data-widget_type=\"ucaddon_breadcrumbs.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\n\n\t\t\t\n <div id=\"breadcrumbs-container\" class=\"left\">\n <nav aria-label=\"breadcrumbs\" class=\"rank-math-breadcrumb\"><p><\/p><\/nav> <\/div>\n \n\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-05b789a elementor-widget elementor-widget-ucaddon_last_updated\" data-id=\"05b789a\" data-element_type=\"widget\" data-widget_type=\"ucaddon_last_updated.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\n\n\t\t\t\n<div id=\"last-updated-container\" class=\"\">\n\n <script id=\"last-updated-schema\" type=\"application\/ld+json\">\n        {\n          \"@context\": \"https:\/\/schema.org\",\n          \"@type\": \"Article\",\n          \"headline\": \"Equipment finance insurance\",\n          \n          \"datePublished\": \"2023-06-07T09:32:10+00:00\",\n          \"dateModified\": \"2024-02-14T12:34:08+00:00\",\n          \"author\": [{\n              \"@type\": \"Person\",\n              \"name\": \"Chris Godfrey\",\n              \"url\": \"https:\/\/swoopfunding.com\/us\/author\/chris-godfrey\/\"\n            }]\n        }\n    <\/script>\n \n <div class=\"last-updated view-user\" style=\"justify-content: left;\">\n \n <div class=\"info-left\">\n <a href=\"https:\/\/swoopfunding.com\/us\/author\/chris-godfrey\/\"><img loading=\"lazy\" decoding=\"async\" loading=\"lazy\" src=\"https:\/\/swoopfunding.com\/wp-content\/uploads\/2021\/03\/chris-godfrey-author.png\" data-lazy-src=\"https:\/\/swoopfunding.com\/wp-content\/uploads\/2021\/03\/chris-godfrey-author.png?is-pending-load=1\" alt=\"Chris Godfrey\" class=\"jetpack-lazy-image\" loading=\"lazy\" width=\"92\" height=\"92\"><\/a>\n <\/div>\n \n <div class=\"info-right\">\n <p>Page written by <a href=\"https:\/\/swoopfunding.com\/us\/author\/chris-godfrey\/\">Chris Godfrey<\/a>. <span>Last reviewed on February 14, 2024<\/span>. <span>Next review due October 1, 2025.\n <\/span>\n <\/p>\n\n <\/div>\n\n <\/div>\n<\/div>\n\n<div id=\"externalTooltipContent\" style=\"display: none;\">\n <div class=\"top-info\">\n <img loading=\"lazy\" decoding=\"async\" loading=\"lazy\" src=\"https:\/\/swoopfunding.com\/wp-content\/uploads\/2021\/03\/chris-godfrey-author.png\" data-lazy-src=\"https:\/\/swoopfunding.com\/wp-content\/uploads\/2021\/03\/chris-godfrey-author.png?is-pending-load=1\" alt=\"\" class=\"jetpack-lazy-image\" loading=\"lazy\" width=\"92\" height=\"92\">\n <div class=\"text\">\n <div class=\"name-author\">Chris Godfrey<\/div>\n <div class=\"role-user\">Expert financial copywriter<\/div>\n <\/div>\n <\/div>\n <div class=\"description\">Chris is a freelance copywriter and content creator. He has been active in the marketing, advertising, and publishing industries for more than twenty-five years. Writing for Wells Fargo Bank, Visa, Experian, Ebay, Flywire, insurers and pension funds, his words have appeared online and in print to inform, entertain and explain the complex world of US consumer and business finance.<\/div>\n<\/div>\n\n<div class=\"modal fade modal-form modal-user\" id=\"modal-user\" tabindex=\"-1\" role=\"dialog\" aria-labelledby=\"modal-user\" aria-hidden=\"true\">\n <div class=\"modal-dialog\" role=\"document\">\n\n <div class=\"modal-content\">\n <div class=\"modal-header\">\n <button type=\"button\" class=\"close\" data-dismiss=\"modal\" aria-label=\"Close\">\n <span aria-hidden=\"true\">&times;<\/span>\n <\/button>\n <\/div>\n <div class=\"modal-body\">\n \n <div class=\"top-info\">\n <img loading=\"lazy\" decoding=\"async\" loading=\"lazy\" src=\"https:\/\/swoopfunding.com\/wp-content\/uploads\/2021\/03\/chris-godfrey-author.png\" data-lazy-src=\"https:\/\/swoopfunding.com\/wp-content\/uploads\/2021\/03\/chris-godfrey-author.png?is-pending-load=1\" alt=\"\" class=\"jetpack-lazy-image\" loading=\"lazy\" width=\"92\" height=\"92\">\n <div class=\"text\">\n <div class=\"name-author\">Chris Godfrey<\/div>\n <div class=\"role-user\">Expert financial copywriter<\/div>\n <\/div>\n <\/div>\n <div class=\"description\">Chris is a freelance copywriter and content creator. He has been active in the marketing, advertising, and publishing industries for more than twenty-five years. Writing for Wells Fargo Bank, Visa, Experian, Ebay, Flywire, insurers and pension funds, his words have appeared online and in print to inform, entertain and explain the complex world of US consumer and business finance.<\/div>\n <ul class=\"social-links\">\n <li><a href=\"https:\/\/www.linkedin.com\/in\/christopher-godfrey-332198139\/\" target=\"_blank\" rel=\"noreferrer noopener\"><span class=\"text-link\">Linkedin<\/span><i class=\"icon icon-linkedin\"><\/i><\/a><\/li>\n <li><a href=\"https:\/\/www.freelancewords.co.uk\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><span class=\"text-link\">Website<\/span><i class=\"icon material-icons\">web_asset<\/i><\/a><\/li>\n <\/ul>\n \n <\/div>\n <\/div>\n <\/div>\n<\/div>\n\n\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-19c67cdb elementor-widget elementor-widget-text-editor\" data-id=\"19c67cdb\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">However, what happens if the equipment is lost, damaged or stolen during the lease\/loan period? Who is liable for the financial loss? <a href=\"https:\/\/swoopfunding.com\/us\/business-loans\/asset-finance\/equipment-financing\/\">Equipment finance<\/a> insurance has been designed to solve this tricky problem and take the worry out of borrowing or leasing the equipment your business needs. All it takes is a simple monthly, quarterly or annual premium to protect lessors, lenders, lessees, and borrowers from financial, legal, or compliance jeopardy. <\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-2dd9a246 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2dd9a246\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-48322ded\" data-id=\"48322ded\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-fd6b83d elementor-widget elementor-widget-heading\" data-id=\"fd6b83d\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What is equipment finance insurance?<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5462ab5b elementor-widget elementor-widget-text-editor\" data-id=\"5462ab5b\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Equipment finance insurance, (also called <\/span><a href=\"https:\/\/swoopfunding.com\/us\/business-loans\/asset-finance\/equipment-leasing\/\"><span style=\"font-weight: 400;\">commercial lease<\/span><\/a><span style=\"font-weight: 400;\"> insurance or equipment rental insurance), protects the lessor (equipment provider) and the lessee (you) from financial, legal and compliance liability when using leased equipment and vehicles. Equipment finance insurance may be included in the lease or <\/span><span style=\"font-weight: 400;\">finance agreement<\/span><span style=\"font-weight: 400;\"> as part of a package deal, or it may be up to the lessee to obtain cover that protects all parties. In most finance and lease agreements, insurance cover is a legal obligation. The lessee always pays the insurance premium.\u00a0<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-3375079f elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3375079f\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-5a2fabf\" data-id=\"5a2fabf\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-74d6df6a elementor-align-center elementor-widget elementor-widget-button\" data-id=\"74d6df6a\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/us.swoopfunding.ca\/stage\/\" target=\"_blank\" rel=\"noopener\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t<span class=\"elementor-button-text\">Apply now<\/span>\n\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-1a231abf elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1a231abf\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-4d9ed96a\" data-id=\"4d9ed96a\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6f2abb99 elementor-widget elementor-widget-heading\" data-id=\"6f2abb99\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">The different types of equipment finance insurance:<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7c41606f elementor-widget elementor-widget-text-editor\" data-id=\"7c41606f\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Equipment finance insurance is used to protect the lessor, the lessee, and third parties. Depending on the equipment or vehicle that is being leased or financed, the type of insurance required will vary. The main types of equipment finance insurance are:<\/span><\/p><h3><b>Equipment physical damage programs<\/b><\/h3><p><span style=\"font-weight: 400;\">Available for finance (instalment loan), lease, or straight rental agreements, Equipment Physical Damage programs (EPD) are the most common form of equipment finance insurance. EPDs protect against damage or loss to the equipment or vehicle during the contract period. The various EPD programs include:<\/span><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Full-service automated program \u2013 cover that is automatically added to any agreement.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Self-service program \u2013 allows the customer (lessee) to instantly enroll in an EPD program.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Point of Sale protection \u2013 offered at finance origination by the lender.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Machine tool operator error program \u2013 covers physical damage to a machine tool by the borrower or lessee.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Rental loss damage waiver \u2013 general purpose protection for equipment out on rental or lease.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Repossession cover \u2013 protects the lessor from loss in case of repossession of the equipment or vehicle.<\/span><\/li><\/ul><h3><b>Commercial Vehicle Program<\/b><\/h3><p><span style=\"font-weight: 400;\">This is insurance that protects the insured against uninsured physical loss or damage to financed commercial-titled vehicles. The policy usually covers collision and comprehensive losses but does not provide liability coverage.<\/span><\/p><h3><b>Risk Management Programs for Lease Portfolios<\/b><\/h3><p><span style=\"font-weight: 400;\">These are specialized insurance products to protect the lessors (owners) of the assets they place out on lease or rental. They include:<\/span><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Equipment Residual Value Insurance \u2013 this allows lessors to account for operating leases as finance leases to accelerate earnings and enhance financial gains.\u00a0<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Stipulated Loss Gap Coverage &#8211; insures the exposure between the new book value and the stipulated loss value when lessors buy or sell a lease. Eliminates the need for lessors to set reserves for exposure.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Contingent &amp; Excess Liability Insurance &#8211; protects the insured in the event of an accident lawsuit involving their leased equipment.\u00a0<\/span><\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-467836ea elementor-align-center elementor-widget elementor-widget-button\" data-id=\"467836ea\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/us.swoopfunding.ca\/stage\/\" target=\"_blank\" rel=\"noopener\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t<span class=\"elementor-button-text\">Apply now<\/span>\n\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6b7368e elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6b7368e\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-1d7ad2cb\" data-id=\"1d7ad2cb\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7821d16f elementor-widget elementor-widget-heading\" data-id=\"7821d16f\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What documentation is required?<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6e9116d9 elementor-widget elementor-widget-text-editor\" data-id=\"6e9116d9\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">To obtain equipment finance insurance, (if not automatically provided by the lessor\/lender), you will typically need to provide the following information to the insurer:<\/span><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Your business details<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Details of the equipment being financed or leased, including its intended location and usage, and any serial\/registration numbers.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Copy of the finance\/lease agreement, clearing showing contract number.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Odometer (mileage) reading if a vehicle is being leased or financed.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Value of the equipment.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Start and end date of the agreement.<\/span><\/li><\/ul><p><span style=\"font-weight: 400;\">Once insurance has been purchased, the insurer must send a copy of the certificate of insurance to the lessor\/lender. Make sure the lessor\/lender\u2019s business name is also on the insurance documents (ex: Global Bank &amp; Trust), and they are included as a beneficiary.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6dd9a202 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6dd9a202\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-725f235b\" data-id=\"725f235b\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7a56d868 elementor-widget elementor-widget-heading\" data-id=\"7a56d868\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Get started with Swoop<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4399cac elementor-widget elementor-widget-text-editor\" data-id=\"4399cac\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Equipment finance insurance is a specialist area with differing rules of application and requiring deep knowledge of many business sectors from the lender and insurer. US SMEs seeking insurance or funding may find themselves forever searching and making applications to lenders and insurers without success. The delays this can create could cause them to lose revenue and leave their business vulnerable to competition. Instead, working with a broker, who can access equipment finance insurance, or <\/span><a href=\"https:\/\/swoopfunding.com\/us\/business-loans\/asset-finance\/equipment-leasing\/\"><span style=\"font-weight: 400;\">commercial equipment loans and leases<\/span><\/a><span style=\"font-weight: 400;\">, from a wide range of lenders and insurers is a better way to go. No more cold calls and endless demands for information, just tell us what you need and leave the rest to us.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">Register with Swoop to find the best rates, the best terms and the best equipment finance insurance and commercial equipment leasing today.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7d8703c0 elementor-widget elementor-widget-ucaddon_author_page\" data-id=\"7d8703c0\" data-element_type=\"widget\" data-widget_type=\"ucaddon_author_page.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\n\n\t\t\t\n <div class=\"info-user-post\">\n \n <div class=\"left-info\">\n <a href=\"https:\/\/swoopfunding.com\/us\/author\/chris-godfrey\/\"><img loading=\"lazy\" decoding=\"async\" loading=\"lazy\" src=\"https:\/\/swoopfunding.com\/wp-content\/uploads\/2021\/03\/chris-godfrey-author.png\" data-lazy-src=\"https:\/\/swoopfunding.com\/wp-content\/uploads\/2021\/03\/chris-godfrey-author.png?is-pending-load=1\" alt=\"\" class=\"jetpack-lazy-image\" loading=\"lazy\" width=\"92\" height=\"92\"><\/a>\n <\/div>\n \n <div class=\"right-info\">\n <p>Written by<\/p>\n <p class=\"name-author\"><a href=\"https:\/\/swoopfunding.com\/us\/author\/chris-godfrey\/\">Chris Godfrey<\/a><\/h3>\n <p>Chris is a freelance copywriter and content creator. He has been active in the marketing, advertising, and publishing industries for more than twenty-five years. Writing for Wells Fargo Bank, Visa, Experian, Ebay, Flywire, insurers and pension funds, his words have appeared online and in print to inform, entertain and explain the complex world of US consumer and business finance.<\/p>\n\n <ul class=\"social-links\">\n \n <li><a href=\"https:\/\/www.linkedin.com\/in\/christopher-godfrey-332198139\/\" target=\"_blank\" rel=\"noreferrer noopener\">\n <img loading=\"lazy\" decoding=\"async\" loading=\"lazy\" src=\"https:\/\/swoopfunding.com\/us\/wp-content\/themes\/swoopMW50\/assets\/icons\/icon-linkedin-min.svg\" width=\"30\" height=\"30\" alt=\"Linkedin\">\n <\/a><\/li>\n \n <li><a href=\"https:\/\/www.freelancewords.co.uk\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">\n <img loading=\"lazy\" decoding=\"async\" loading=\"lazy\" src=\"https:\/\/swoopfunding.com\/us\/wp-content\/themes\/swoopMW50\/assets\/icons\/icon-site-min.svg\" width=\"30\" height=\"30\" alt=\"Website\">\n <\/a><\/li>\n <\/ul>\n\n <div class=\"swoop-promise\">\n <p><strong>Swoop promise<\/strong><\/p>\n <p>At Swoop we want to make it easy for SMEs to understand the sometimes overwhelming world of business finance and insurance. Our goal is simple \u2013 to distill complex topics, unravel jargon, offer transparent and impartial information, and empower businesses to make smart financial decisions with confidence.<\/p>\n <p>Find out more about Swoop\u2019s editorial principles by reading our <a href=\"https:\/\/swoopfunding.com\/us\/about-swoop\/editorial-policy\/\">editorial policy<\/a>.<\/p>\n <\/div>\n\n <\/div>\n <\/div>\n\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2c772fb elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"2c772fb\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-efe88b2 elementor-section-full_width elementor-section-height-default elementor-section-height-default\" data-id=\"efe88b2\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-664ac05b\" data-id=\"664ac05b\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6402bbce elementor-widget elementor-widget-template\" data-id=\"6402bbce\" data-element_type=\"widget\" data-widget_type=\"template.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-template\">\n\t\t\t\t\t<div data-elementor-type=\"section\" data-elementor-id=\"11997\" class=\"elementor elementor-11997\">\n\t\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b8ace09 e-con-full e-flex e-con e-parent\" data-id=\"b8ace09\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\" data-core-v316-plus=\"true\">\n\t\t<div class=\"elementor-element elementor-element-2e25523 e-flex e-con-boxed e-con e-child\" data-id=\"2e25523\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-da46449 e-con-full e-flex e-con e-child\" data-id=\"da46449\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-d875f85 elementor-widget elementor-widget-heading\" data-id=\"d875f85\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-heading-title elementor-size-default\">Ready to grow your business?<\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7a64d0f elementor-align-center elementor-widget elementor-widget-button\" data-id=\"7a64d0f\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-md\" href=\"https:\/\/us.swoopfunding.ca\/stage\" target=\"_blank\" rel=\"noopener\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t<span class=\"elementor-button-text\">Get started<\/span>\n\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t<div class=\"elementor-element elementor-element-22aa9236 e-flex e-con-boxed e-con e-parent\" data-id=\"22aa9236\" data-element_type=\"container\" data-core-v316-plus=\"true\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-2e28895 elementor-widget elementor-widget-heading\" data-id=\"2e28895\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">We have a wide range of loan options<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4b9b2d7 elementor-widget elementor-widget-ucaddon_pages_related\" data-id=\"4b9b2d7\" data-element_type=\"widget\" data-widget_type=\"ucaddon_pages_related.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\n\n\t\t\t<div class=\"card-list-container\">\n\t\n\n\t<div class=\"card-with-links-widget\">\n\t\t\n\t\t\t\t<a href=\"https:\/\/swoopfunding.com\/us\/business-loans\/asset-finance\/asset-based-lending\/\">\n\t\t\tAsset-based lending\t\t<\/a>\n\t<\/div>\n\n\n\n\t<div class=\"card-with-links-widget\">\n\t\t\n\t\t\t\t<a href=\"https:\/\/swoopfunding.com\/us\/business-loans\/asset-finance\/equipment-financing\/\">\n\t\t\tEquipment financing\t\t<\/a>\n\t<\/div>\n\n\n\n\t<div class=\"card-with-links-widget\">\n\t\t\n\t\t\t\t<a href=\"https:\/\/swoopfunding.com\/us\/business-loans\/asset-finance\/equipment-leasing\/\">\n\t\t\tEquipment leasing\t\t<\/a>\n\t<\/div>\n\n\n\n\t<div class=\"card-with-links-widget\">\n\t\t\n\t\t\t\t<a href=\"https:\/\/swoopfunding.com\/us\/business-loans\/semi-truck-financing\/\">\n\t\t\tSemi-truck financing\t\t<\/a>\n\t<\/div>\n\n\n\n\t<div class=\"card-with-links-widget\">\n\t\t\n\t\t\t\t<a href=\"https:\/\/swoopfunding.com\/us\/blog\/finance-lease-vs-operating-lease\/\">\n\t\t\tFinance lease vs. operating lease \u2013 what\u2019s the difference?\t\t<\/a>\n\t<\/div>\n\n\n\n\t<div class=\"card-with-links-widget\">\n\t\t\n\t\t\t\t<a href=\"https:\/\/swoopfunding.com\/us\/business-loans\/asset-finance\/equipment-financing\/industrial-equipment-finance\/\">\n\t\t\tIndustrial equipment finance\t\t<\/a>\n\t<\/div>\n\n\n\n\t<div class=\"card-with-links-widget\">\n\t\t\n\t\t\t\t<a href=\"https:\/\/swoopfunding.com\/us\/business-loans\/asset-finance\/equipment-financing\/startup-equipment-finance\/\">\n\t\t\tStartup equipment finance\t\t<\/a>\n\t<\/div>\n\n\n\n\t<div class=\"card-with-links-widget\">\n\t\t\n\t\t\t\t<a href=\"https:\/\/swoopfunding.com\/us\/business-loans\/asset-finance\/equipment-financing\/heavy-equipment-finance\/\">\n\t\t\tHeavy equipment finance\t\t<\/a>\n\t<\/div>\n\n\n\n\t<div class=\"card-with-links-widget\">\n\t\t\n\t\t\t\t<a href=\"https:\/\/swoopfunding.com\/us\/business-loans\/asset-finance\/equipment-financing\/medical-equipment-finance\/\">\n\t\t\tMedical equipment finance\t\t<\/a>\n\t<\/div>\n\n\n\n\t<div class=\"card-with-links-widget\">\n\t\t\n\t\t\t\t<a href=\"https:\/\/swoopfunding.com\/us\/business-loans\/asset-finance\/equipment-financing\/technology-equipment-financing\/\">\n\t\t\tTechnology equipment financing\t\t<\/a>\n\t<\/div>\n\n\n\n\t<div class=\"card-with-links-widget\">\n\t\t\n\t\t\t\t<a href=\"https:\/\/swoopfunding.com\/us\/business-loans\/asset-finance\/equipment-leasing\/heavy-equipment-leasing\/\">\n\t\t\tHeavy equipment leasing\t\t<\/a>\n\t<\/div>\n\n\n\n\t<div class=\"card-with-links-widget\">\n\t\t\n\t\t\t\t<a href=\"https:\/\/swoopfunding.com\/us\/business-loans\/asset-finance\/equipment-leasing\/commercial-equipment-leasing\/\">\n\t\t\tCommercial equipment leasing\t\t<\/a>\n\t<\/div>\n\n\n<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Equipment finance insurance Leasing or financing business equipment and vehicles instead of paying for them with valuable working capital makes good business sense. Apply now Page written by Chris Godfrey. Last reviewed on February 14, 2024. Next review due October 1, 2025. Chris Godfrey Expert financial copywriter Chris is a freelance copywriter and content creator. [&hellip;]<\/p>\n","protected":false},"author":26,"featured_media":0,"parent":15167,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"elementor_header_footer","meta":{"_acf_changed":false,"footnotes":""},"acf":[],"featured_image_urls":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":"","image_blog":"","image_podcast":"","image_banking":"","image_blog_internal":"","image_blog_medium":"","image_single_banking":""},"post_excerpt_stackable":"<p>Equipment finance insurance Leasing or financing business equipment and vehicles instead of paying for them with valuable working capital makes good business sense. Apply now Page written by Chris Godfrey. Last reviewed on February 14, 2024. Next review due October 1, 2025. Chris Godfrey Expert financial copywriter Chris is a freelance copywriter and content creator. He has been active in the marketing, advertising, and publishing industries for more than twenty-five years. Writing for Wells Fargo Bank, Visa, Experian, Ebay, Flywire, insurers and pension funds, his words have appeared online and in print to inform, entertain and explain the complex world&hellip;<\/p>\n","category_list":"","author_info":{"name":"Chris Godfrey","url":"https:\/\/swoopfunding.com\/us\/author\/chris-godfrey\/"},"comments_num":"0 comments","featured_image_urls_v2":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":"","image_blog":"","image_podcast":"","image_banking":"","image_blog_internal":"","image_blog_medium":"","image_single_banking":""},"post_excerpt_stackable_v2":"<p>Equipment finance insurance Leasing or financing business equipment and vehicles instead of paying for them with valuable working capital makes good business sense. Apply now Page written by Chris Godfrey. Last reviewed on February 14, 2024. Next review due October 1, 2025. Chris Godfrey Expert financial copywriter Chris is a freelance copywriter and content creator. He has been active in the marketing, advertising, and publishing industries for more than twenty-five years. Writing for Wells Fargo Bank, Visa, Experian, Ebay, Flywire, insurers and pension funds, his words have appeared online and in print to inform, entertain and explain the complex world&hellip;<\/p>\n","category_list_v2":"","author_info_v2":{"name":"Chris Godfrey","url":"https:\/\/swoopfunding.com\/us\/author\/chris-godfrey\/"},"comments_num_v2":"0 comments","_links":{"self":[{"href":"https:\/\/swoopfunding.com\/us\/wp-json\/wp\/v2\/pages\/21138"}],"collection":[{"href":"https:\/\/swoopfunding.com\/us\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/swoopfunding.com\/us\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/swoopfunding.com\/us\/wp-json\/wp\/v2\/users\/26"}],"replies":[{"embeddable":true,"href":"https:\/\/swoopfunding.com\/us\/wp-json\/wp\/v2\/comments?post=21138"}],"version-history":[{"count":7,"href":"https:\/\/swoopfunding.com\/us\/wp-json\/wp\/v2\/pages\/21138\/revisions"}],"predecessor-version":[{"id":27784,"href":"https:\/\/swoopfunding.com\/us\/wp-json\/wp\/v2\/pages\/21138\/revisions\/27784"}],"up":[{"embeddable":true,"href":"https:\/\/swoopfunding.com\/us\/wp-json\/wp\/v2\/pages\/15167"}],"wp:attachment":[{"href":"https:\/\/swoopfunding.com\/us\/wp-json\/wp\/v2\/media?parent=21138"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}