Which of the following is a characteristic of Personal Inland Marine Insurance effects?

Personal Inland Marine Insurance is designed to cover a broad range of personal property that is often in transit or not confined to a specific location. A primary characteristic of this type of insurance is that it typically provides open peril coverage on a blanket basis. This means that it covers a wide array of risks without requiring the insured to specify each item.

Open peril coverage, also known as all-risk coverage, means that unless an exclusion specifically states otherwise, all types of damage or loss to the insured property are covered. This is especially beneficial for individuals who have valuable items for which the risk of loss can be hard to identify at the time of purchasing insurance.

Moreover, the blanket basis allows for the sum insured to cover multiple items collectively rather than individually, simplifying the process and providing comprehensive protection.

In contrast, the other choices do not accurately reflect the characteristics of Personal Inland Marine Insurance. For example, excluding property typically carried by tourists does not align with the intent of this insurance, which aims to cover items that might be portable or insured during travel. Similarly, limiting coverage to just property in storage would disregard the insurance's fundamental purpose, which largely focuses on property in transit. Lastly, personal inland marine insurance primarily deals with personal property rather than commercial vehicle liability