What type of personal property does the Leased Property endorsement CP 14 60 cover?

The Leased Property endorsement CP 14 60 provides coverage specifically for personal property that is leased to the named insured. This endorsement is designed to protect the financial interests of the insured in regards to property for which they are responsible but do not own outright. It acknowledges that oftentimes businesses lease equipment or other personal property, and offers coverage for loss or damage to that leased property.

This focus on leased property means that it directly addresses the situation where the insured has a contractual obligation to maintain insurance for the leased items, bridging gaps that might otherwise exist in standard commercial property policies.

Other types of personal property, such as property solely owned by the insured or owned by others, do not fall under the specific purview of this endorsement, which is dedicated solely to items under lease agreements. Additionally, property associated with commercial vehicles is not relevant to the endorsement, as the Leased Property endorsement is strictly about personal property in a leasing context.