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A certificate of insurance must be filed with the city clerk at the time the application is filed. Insurance coverage shall be in the minimum limits of one hundred thousand dollars combined single limits for bodily injury and property damage liability per occurrence. For vehicles in the custody of the licensee, the insurance coverage shall provide minimum limits of fifty thousand dollars from the time a vehicle comes into custody of an operator until it is redeemed or sold. The certificate of insurance shall indicate the licensee’s extent of coverage, limits and the expiration date of said policy.

Such insurance as is required in this chapter shall be maintained in full force and effect for the full period to be covered by the license applied for. Applicant shall submit a certificate of insurance to the city at the time of license application indicating compliance with the insurance requirements set forth in this chapter and naming the city as an additional insured on the insurance coverage. The insurer shall be obliged to give not less than thirty days’ written notice to the city before any cancellation or termination of the policy earlier than its expiration date. (Ord. 1830-91 § 4, 1991.)