Openly’s standard HO-5 policy (Form OPP-10) automatically includes enhanced sub-limits for personal property (Coverage C). All insureds receive these higher sub-limits as part of their standard coverage—no additional endorsement is required.
Standard Coverage C Sub-Limits
The following sub-limits apply automatically to all standard policies and are subject to the policy deductible:
| Item / Property Category | Standard Sub-Limit |
|---|---|
| Business property on-premises | $15,000 |
| Business property off-premises | $10,000 |
| Securities | $10,000 |
| Portable electronic equipment | $10,000 |
| Wine | $10,000 |
| Comic books & Trading Cards | $10,000 |
| Collectibles, Figurines | $10,000 |
| Theft of Rugs & Tapestries | $10,000 |
| Theft of Tools | $10,000 |
| Art | $10,000 |
| Trailers (not used with Watercraft) | $5,000 |
| Antennas, tapes, wires, records | $5,000 |
| Watercraft | $3,000 |
| Money, Currency | $2,500 |
| Legally obtained marijuana | $250 |
Included Endorsements with Higher Limits
Openly automatically includes an endorsement for HO-5 policies that provides higher limits for the following coverages. Unless stated otherwise, coverage is subject to the standard policy deductible:
| Coverage | Limit | Deductible |
|---|---|---|
| Limited Seepage | $20,000 | Policy Deductible |
| Credit Card, EFT Card Replacement | $10,000 | Policy Deductible |
| Refrigerated Property | $5,000 | $500 Deductible |
Sub-Limits for "Theft, Misplacement, or Lost" Perils
For the specific items below, sub-limits are explicitly based on loss due to the peril of theft, misplacement, or loss. These are also subject to the policy deductible:
| Item / Property Category | Sub-Limit (Theft, Misplacement, or Lost) |
|---|---|
| Firearms | $10,000 |
| Goldware | $10,000 |
| Jewelry, Watches, Furs | $5,000 |
Adding Blanket Contents Coverage
If your policyholder needs higher limits for specific categories of valuables but does not want to schedule individual items, the Blanket Contents Coverage Endorsement can be added on the Coverage tab for Primary Residence and Secondary/Seasonal policy types.
Policy Guidelines:
- No Documentation Needed: You do not need to provide receipts or appraisals to add a category to blanket coverage.
- Coverage Scope: This endorsement covers personal property that is owned by the Named Insured, kept at the residence premises, or temporarily away from the residence premise.
- Policy Terms: It features open perils coverage, settles on a Replacement Cost basis, and has no deductible.
When to Use This Endorsement:
- For a single item worth less than $25,000. (Note: Individual items valued over $25,000 must be scheduled separately to ensure full coverage).
- For policyholders who prefer replacement cost settlement rather than an agreed or market value settlement.
Blanket Contents Property Categories and Limits
| Property Category | Available Limits | Deductible |
|---|---|---|
| Jewelry | $5,000 to $100,000 (In $5,000 increments) | $0 |
| Furs | $5,000 to $100,000 (In $5,000 increments) | $0 |
| Cameras | $5,000 to $100,000 (In $5,000 increments) | $0 |
| Musical Instruments (not used for business/compensation) | $5,000 to $100,000 (In $5,000 increments) | $0 |
| Computers | $5,000 to $100,000 (In $5,000 increments) | $0 |
| Silverware | $5,000 to $100,000 (In $5,000 increments) | $0 |
| Fine Arts (unique piece or limited reproduction) | $5,000 to $100,000 (In $5,000 increments) | $0 |
| Wine | $5,000 to $100,000 (In $5,000 increments) | $0 |
| Firearms | $5,000 to $100,000 (In $5,000 increments) | $0 |
| Fine China & Crystal | $5,000 to $100,000 (In $5,000 increments) | $0 |
| Rare Coins | $5,000 to $100,000 (In $5,000 increments) | $0 |
| Stamps | $5,000 to $100,000 (In $5,000 increments) | $0 |
| Trading Cards | $5,000 to $100,000 (In $5,000 increments) | $0 |
| Other Collectibles (pencils, bottles, figurines, plates, comic books, thimbles, dolls, trains, and/or stuffed animals) | $5,000 to $100,000 (In $5,000 increments) | $0 |
Learn more about other included coverages.
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