What type of insurance is Hangarkeepers Liability?

Hangarkeepers Liability is classified as Bailee insurance because it specifically protects businesses that store or care for someone else's property. This type of insurance is essential for entities, like hangar operators, who take temporary possession of aircraft or other personal property for safekeeping, maintenance, or storage. In the event of damage, theft, or loss while under their care, the hangarkeepers liability insurance covers the financial responsibility for the loss or damage of that property.

This distinction is important because Bailee insurance is designed to address the unique circumstances of holding onto goods that belong to another party, whereas general liability insurance typically covers bodily injury and property damage that might occur on one's own premises. Property insurance is focused on protecting one's own physical assets rather than those of others, while health insurance pertains to medical expenses and services, which does not relate to the care or custody of goods.