Bailee insurance

Helping you take care of other people’s belongings.

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What is bailee insurance?

Bailee insurance is a type of coverage for individuals or businesses who temporarily have someone else’s property in their care. A common example is when a laundromat has a fire, and the clothes inside are ruined. The clothing owner, known as the “bailor,” gets protection for their items through bailee insurance. This insurance covers things that don’t belong to you as the policyholder.

Why is bailee insurance important?

Bailee insurance is crucial if you handle others’ belongings because it offers protection against property damage, loss, or theft of customer belongings. Not only is bailee insurance a legal requirement in some industries, but it can also act as a financial safety net, reducing the risk of business disruption or bankruptcy due to unforeseen incidents.

Plus, it fosters trust with your customers. Bailee insurance gives customers peace of mind because they know you care enough about them to safeguard their belongings. So, bailee insurance can also give you a competitive edge.

Which businesses should consider bailee insurance?

Bailee insurance is a good choice for businesses that temporarily hold someone else’s property. It’s commonly used by the following businesses:

Common limitations in bailee insurance policies

Common limitations in bailee insurance policies include coverage limits or maximum payouts, which vary depending on the policy. Understanding your policy’s specific coverage and payout limits is essential, as bailee insurance typically only provides limited coverage.

Plus, these policies often come with requirements or conditions for how property should be handled or stored. Failure to adhere to these conditions might affect your coverage.

In the event of a loss, it’s your responsibility to demonstrate you took all necessary precautions, which can sometimes be challenging and may require legal assistance.

Your future, your way with NEXT

NEXT offers convenient 24/7 access to your plan and policies, allowing you to oversee your coverage on your own timeline effortlessly.

Begin a quote, tailor your preferences, and access your insurance certificate in approximately 10 minutes.

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Business insurance is divided into different policies. We offer seven types so it's easy to design the coverage that fits your business.
General Liability insurance
General Liability
Protect yourself from accidents that cause physical injury or damaged property.
Professional Liability or Error and Omissions Insurance
Professional Liability/E&O
Shield yourself from lawsuits that claim your work errors caused financial losses.
Workers' Compensation Insurance
Workers’ Compensation
Cover medical bills and lost wages if your employees have an accident at work.
Commercial Auto Insurance
Commercial Auto
Stay on the road with coverage for dents, tows and damage to someone else’s vehicle.
Tools & Equipment Insurance
Tools & Equipment
Upgrade your general liability coverage to protect any gear that’s stolen, damaged or lost.
Commercial Property Insurance
Commercial Property
Keep your building, inventory and equipment protected from fire or water damage.
Business Owner’s Policy Insurance
Business Owner’s Policy
Combine general liability and commercial property into one policy to protect your business.
* To the extent permitted by law, applicants are individually underwritten, not all applicants may qualify. Individual rates and savings vary and are subject to change. Discounts and savings are available where state laws and regulations allow, and may vary by state. Certain discounts apply to specific coverages only.
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Issuance of coverage is subject to underwriting. Not available in all states. Please see the policy for full terms, conditions and exclusions. Coverage examples are for illustrative purposes only. Your policy documents govern, terms and exclusions apply. Coverage is dependent on actual facts and circumstances giving rise to a claim. Next Insurance, Inc. and/or its affiliates is an insurance agency licensed to sell certain insurance products and may receive compensation from insurance companies for such sales. Policy obligations are the sole responsibility of the issuing insurance company. Refer to Legal Notices section for additional information.

** Coverage examples are for illustrative purposes only. Your policy documents govern, terms and exclusions apply. Coverage is dependent on actual facts and circumstances giving rise to a claim.

Any starting prices or premiums represented before an actual customer quote are not guaranteed and are representations of existing premiums of active policies as of December 6, 2023. To the extent permitted by law, applicants are individually underwritten, not all applicants may qualify. Individual rates and savings vary and are subject to change. Discounts and savings are available where state laws and regulations allow, and may vary by state. Certain discounts apply to specific coverages only.