The ACORD 37 Property of Others Schedule is used to list and describe property belonging to customers or third parties that is regularly in the insured's care, custody, or control. For businesses that routinely hold, store, or work on property belonging to others — repair shops, storage facilities, dry cleaners, printers, and many service businesses — this schedule is an important part of the commercial insurance submission.
The ACORD 37 is needed for businesses that regularly hold property belonging to others: • Repair shops (auto repair, electronics, appliance repair) • Storage facilities and warehouses • Dry cleaners and laundries • Printers and finishers who hold client materials • Jewelers with customer jewelry for repair or appraisal • Furriers and tailors • Any business that accepts customer goods for service or storage
Standard commercial property insurance covers property the insured owns. Property belonging to customers or third parties is typically excluded from the insured's property policy.
The insured's legal liability for customer property is covered under general liability — but only if the insured is legally negligent. If a customer's property is destroyed by fire through no fault of the insured, the GL policy may not respond.
Specialty coverage for property of others fills this gap, providing direct coverage for customer property in the insured's care regardless of negligence.
A "bailee" is a party who has temporary possession of another's property. Most businesses that hold customer goods are bailees. Bailee coverage provides first-party coverage for damage to or loss of customer property while it is in the insured's care.
The ACORD 37 is often used in connection with a bailee's customers floater — an inland marine coverage that protects the insured against claims from customers whose property is lost, damaged, or destroyed.
This is different from garagekeepers liability (which covers auto repair operations) or warehouseman's liability (which covers commercial storage operations).
The ACORD 37 requires a schedule of the types of property the insured regularly holds, including:
• Description of the property type (e.g., customer clothing, customer vehicles, customer electronic equipment) • Maximum value at any one time (this drives the coverage limit) • Where the property is typically stored or held • Security and storage conditions • Prior losses involving customer property
Underestimating the maximum value of customer property at any one time
Not identifying businesses that hold customer property when completing the ACORD 125 operations description
Assuming the GL policy covers customer property loss regardless of negligence
Not scheduling high-value individual items that exceed blanket bailee limits
Missing the garagekeepers coverage for auto-related businesses where ACORD 37 may not be the right form
Send your client a plain-English intake link. When they finish, the completed ACORD 37 and all required companion forms are generated and ready to submit.