Bailee’s Liability Insurance
Bailee Liability insurance is a policy that protects you from liability when goods under your care/control are damaged or lost.
Product Highlights
Bailees’ Liability Insurance
Bailees’ Liability Insurance provides coverage for legal liability arising from the loss of or damage to property entrusted to a bailee whilst in transit or storage
Premium Rate
Based on the risk location, nature of business, security management, fire fighting system establishment, risk assessment report and breakdown of sum insured value, etc.
Coverage & Benefits
What is covered
Bailees’ Liability Insurance covers financial loss resulting from accidental physical loss or damage to third-party property while it is under the care, custody, or control of the insured. This includes coverage for property stored at the insured premises and during transit from collection to delivery. It provides protection against legal liability for third-party claims arising from accidents related to the insured’s business operations, including incidents involving property managed by the insured, their employees, or agents.
Insurance Eligibility
What can be insured?
Warehouseman Liability: Coverage for property stored at the insured premises.
Carrier Liability: Coverage for property in transit.
Who can be insured?
Any person or organization who would be legally liable for the third party’s property under their care.
Period of Insurance
Typically covers a period of 1 year.
