Bailee

TruePoint Insurance Logo Key Insurance Words and Phrases

 

Anyone (person or entity) that has temporary custody of the belongings of others.  This is normally associated with businesses that are performing a service.  Examples would include dry cleaning, watch or clock repair, and possibly a parking garage.

The insurance coverage that protects the business charge with the tempory care custody and control of client property is known as Bailee Coverage.  It is sometimes referred to as Bailee’s Coverage and also Bailee Liability Coverage.

Associated terms and phrases:
Bailor
Care, Custody, and Control
Bailee Coverage

Bailee vs Bailor

Bailee is the party that is temporarily entrusted with the belongings and has no ownershipReturn to TruePoint Home Page

Bailor is the part with ownership interest that has left their property in the care, custody, and control of another where certain business services are provided.

 

 

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