Personal Property coverage, known as Coverage C, protects property owners' personal belongings that are not part of or permanently affixed to a structure. Coverage C details can be found on the Coverage tab in the Portal for all policy types.
Adjusting Coverage Limits
Openly provides flexibility to tailor coverage to a customer's specific lifestyle.
- Default Limit: Automatically set to 50% of the Replacement Cost Estimator (RCE).
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Customization Range: The limit can be fully customized from 0% to 150% of the RCE during the quoting process to match the customer’s actual belongings.
Sub-Limits for High-Value Items
Openly applies specific sub-limits to specialized property categories such as jewelry, collectibles, and furs. However, Openly’s base sub-limits for HO-5 policies are significantly higher than the standard ISO industry average. For a detailed breakdown of these limits, please review our Coverage C Sub-Limits.
Coverage by Policy Type
The scope of Coverage C depends entirely on the type of policy selected. Use the breakdown below to understand how perils and valuations change:
| Policy Type | Perils Covered | Valuation Basis | Note |
|---|---|---|---|
| Primary and Secondary / Seasonal |
Open Perils All causes of loss are covered unless expressly excluded |
Replacement Cost Pays to replace items at today's retail prices |
Offers the highest level of comprehensive protection. |
| Rent-to-Others |
Named Perils Only causes of loss explicitly listed in the policy are covered |
Actual Cash Value (ACV) Pays replacement cost minus depreciation |
Landlords should ensure their tenants carry separate renters' insurance. |
Property in Transit or Self-Storage
Openly's coverage extends to belongings that are temporarily away from the primary home. Items located in transit or within a self-storage facility are covered up to 10% of the Coverage C limit or $1,000, whichever is greater.
Exclusions & Notes
- Property is relocated because the primary residence is unfit for living or storing property.
- Belongings are moved temporarily due to repairs, renovations, or rebuilding of the insured residence.
- If a policyholder is using a professional moving company, they should secure liability coverage directly through the movers. Openly does not cover breakage or damage caused by professional movers.
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