In order to engage in municipal towing services within the Township of Knowlton, all contractors, businesses and garages shall be so authorized and appointed by the Township Committee of the Township of Knowlton and shall meet the following liability insurance qualifications to engage in the municipal towing services:
A.
All such operators shall possess a current garage keeper's legal liability insurance policy, which shall cover fire, theft and explosion in a minimum amount of $75,000 and collision coverage of $10,000, with a maximum deductible provision of not greater than $1,000. Said policy shall insure that every accident insuring the operator shall be deemed a separate claim.
B.
The towing operator shall also provide a garage operator general public liability policy covering the operation of the towing business equipment in the amount of $500,000 and automobile bodily injury liability and property damage in a minimum amount of $100,000 for any one injury or accident and $300,000 for more than any one personal injury and in any one accident.
C.
In addition, the operator shall provide property damage coverage in the minimum amount of $10,000 for any and all damages arising out of injury or destruction to property.
D.
All policies of insurance shall have a duplicate copy, and the duplicate shall be furnished to the Township Clerk. Each policy shall contain a specific endorsement providing notice to the Township of Knowlton in the event of any change or cancellation. The garage operator or towing service company shall provide a certificate of insurance or an endorsement naming the Township of Knowlton as an additional insured thereon and shall further provide a Hold Harmless and Indemnification Agreement, by policy endorsement or separate document, in a form acceptable to the Township.