What's a bailee's customer policy?

When a business holds property owned by customers (a repair shop holding cars or computers, a dry cleaner holding clothes, a storage facility holding household goods, a warehouse holding inventory), the business has a legal duty to safeguard that property. If property is damaged, lost, or stolen while in the bailee's care, the bailee can be liable to the owner. Bailees customers insurance (sometimes called 'bailee's coverage' or 'customer property coverage') is a specific inland marine form that covers the bailee's legal liability for damage to or loss of customer property. Standard commercial property typically excludes property of others, so bailees coverage fills that gap. Pricing scales with the value of property typically held and the type of business.