Bailee insurance

Bailee's customers' insurance provides coverage for the legal liability of damage or destruction of a bailor's property while under the care of a bailee. A bailee is a person or organization that has temporary possession of someone else's personal property (dry cleaner, parking valet, jewelers, repairers, etc.)

Bailee's customers' insurance provides coverage for the legal liability of damage or destruction of a bailor's property while under the care of a bailee. A bailee is a person or organization that has temporary possession of someone else's personal property (dry cleaner, parking valet, jewelers, repairers, etc.)

bailee's customers insurance. Definition. A legal term referring to insurance that covers property entrusted by a bailor to a bailee, or temporary custodian of another's property, that takes effect when the bailor receives a receipt from the bailee for the property. Bailee's customers' insurance provides coverage for the legal liability of damage or destruction of a bailor's property while under the care of a bailee. A bailee is a person or organization that has temporary possession of someone else's personal property (dry cleaner, parking valet, jewelers, repairers, etc.) Bailee Legal Liability Insurance. Bailee legal liability policies are more comprehensive. They cover damage or destruction to the bailor’s property regardless of legal liability. They often also cover transport of goods between your premises and the customer’s home or business (learn What You Need to Know About Insuring Freight).

Bailee's customers' insurance provides coverage for the legal liability of damage or destruction of a bailor's property while under the care of a bailee. A bailee is a person or organization that has temporary possession of someone else's personal property (dry cleaner, parking valet, jewelers, repairers, etc.) bailee's customers insurance. Definition. A legal term referring to insurance that covers property entrusted by a bailor to a bailee, or temporary custodian of another's property, that takes effect when the bailor receives a receipt from the bailee for the property. Bailee's insurance, sometimes referred to as bailee's liability coverage or bailee's customer insurance, helps pay the costs to repair or replace the damaged or destroyed property. How Bailee's Insurance Works. People trust many types of businesses with their property every day. Any type of this kind of transaction is called a bailment. Bailee Legal Liability Insurance. Bailee legal liability policies are more comprehensive. They cover damage or destruction to the bailor’s property regardless of legal liability. They often also cover transport of goods between your premises and the customer’s home or business (learn What You Need to Know About Insuring Freight). Definition. Bailee Coverage — inland marine coverage on property entrusted to the insured for storage, repair, or servicing. It is typically purchased by businesses such as dry cleaners, jewelers, repairers, furriers, etc.