Bailee With Insurance
Description
How to fill out Waiver And Release For Furniture And Related Personal Property Stored By Bailee?
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FAQ
Which of the following would require bailee coverage? A TV repair shop is correct. Explanation: A TV repair shop is acting as a bailee when they have property of others in their care, custody, and control.
Bailee Legal Liability Policy The form may provide defense coverage in the event of a suit filed by the property owner for allegedly damaging the covered property or being negligent in such a way that it caused or contributed to the property loss or damage.
A dry cleaner, a repair shop, or a parking garage may be a bailee, while the customer is the bailor. Regular business property insurance plans cover only the property of the business owner. Any business that routinely accepts custody of customers' property may also need bailee's customer insurance.
No benefit to bailee In other words, you still own the property, but someone else is in charge of keeping it safe for the moment. 'No benefit to bailee' means your insurance won't cover damages that happen when your property is in the possession of a third party, like an airline or a moving company.
