[Ord. No. 2017-60]
a.
Every licensee shall carry insurance as follows:
1.
Comprehensive motor vehicle liability in an amount not less than
$1,000,000 combined single limits;
2.
Workers compensation as required by New Jersey law;
3.
Garage keeper's liability in an amount not less than $1,000, covering
fire, theft, explosion and collision coverage;
4.
Garage liability in an amount not less than $1,000,000 combined single
limits;
5.
Endorsements to provide for collision coverage for vehicles in tow;
6.
Comprehensive general liability coverage in an amount not less than
$1,000,000 for each person and $3,000,000 for each accident; and
7.
Endorsement naming Princeton as an additional insured in all insurance
policies (except workers compensation policy). Said endorsement shall
specifically incorporate by reference the insurance and indemnification
requirements of this section.
b.
All licensees shall hold harmless and indemnify Princeton and its
officers, employees and agents, from any and all liability claims,
losses or damage arising or alleged to arise from the performance
of the towing services requested and/or rendered by the licensee,
including any liability which may arise from the licensee's disposal
of hazardous materials.
[Ord. No. 2017-60]
a.
All insurance policies shall be written by insurance companies acceptable
to Princeton and authorized to do business in the State of New Jersey.
b.
No license shall be issued until an applicant shall have deposited
with the chief of police certificates of insurance evidencing the
required insurance coverage and endorsements. All certificates must
provide for 30 days' prior written notice to Princeton of policy cancellation
or material change.
c.
Copies of the actual insurance policies, with all required endorsements,
shall be provided to the chief of police upon request.
d.
No licensee shall be included on Princeton's OTL unless the required
insurance coverage is in place and has been approved by the chief
of police.
e.
The certificates of insurance and related documents required herein
shall be provided to the chief of police on an annual basis.
