Lessee agrees to pay Lessor the Damage Waiver Fee shown as part of its Monthly Payment each month during the Lease Term in lieu of property damage insurance. For this fee, Lessor will bear the risk of damage to or loss of the Leased Property from any cause except theft or disappearance, gross negligence, or misuse (such as, but not limited to, damage by cigarette burns or pets), for which the Lessee shall remain responsible. Lessee may at any time during the Lease Term eliminate this damage waiver by providing Lessor a certificate of insurance acceptable to Lessor evidencing fire and extended coverage protection for the full value of the Leased Property with Lessor named as loss payee.

In order to be exempt from this billable charge, you will need to provide a Certificate of Insurance naming Interior Furniture Resources as the loss payee. Your renters or homeowners insurance agency can provide this, usually at no cost to you. If we do not receive this document within 30 days of delivery of your order, this charge will be automatically added to your monthly statement.