Care, Custody Or Control (CCC)

It sounds like a really outdated part of a marriage vow. But, in fact, it has to do with insurance.

Insurance companies frequently include a Care, Custody or Control clause (CCC) in a homeowner's policy (or similar such product). It will say that property not owned by a person, rental equipment, or goods being transported will be excluded from coverage. The insurance company only wants to cover property and other goods that you own. If you have only temporary responsibility for watching over property (care), or if you are safekeeping someone else's property temporarily (custody), or only have (control) over property but not ownership, the CCC exclusion will be in effect and coverage will not be given.

For example, if someone slips and falls in your rented beach house and wants to sue you, your insurance company will probably invoke a Care, Custody or Control exclusion and not cover the liability for the person's injury. You can always buy an umbrella insurance policy that covers all types of liability for extra protection.