Personal Property of Others Coverage in Comparison with Bailees Coverage

September 22, 2014

What is the difference in coverage between personal property of others and a bailees form? If I insure a small art framing shop that has $10,000 of customers goods, I would use a bailee form but I'm not sure why.

Connecticut Subscriber

Property of others can be insured on the Building and Personal Property Coverage Form under section A.1.c at a similar rate as the insured's personal property. Up to $2,500 is available via the coverage extension for personal effects and property of others. Also, a separate commercial inland marine form for bailees' customers is available. The main difference is that bailees coverage generally provides property-in-transit and off-premises coverage that is not available on the Building and Personal Property Coverage Form.