Which personal property would be most likely covered under open peril basis in Personal Inland Marine Insurance?

Personal Inland Marine Insurance is designed to protect specific types of personal property that are often moveable or associated with specific transportation risks. An open peril basis means that the policy covers all perils that are not specifically excluded in the policy document.

Valuables such as jewelry or fine arts typically fall under categories that would be covered by open peril insurance. These items are not only highly valuable but also usually portable and subject to particular risks like theft or accidental damage during transport. The open peril approach provides significant coverage for such items, as they encompass a variety of potential risks that a standard policy may not address.

In contrast, routine household repairs generally pertain to maintenance and do not involve insurable tangible property in the same manner as valuables. Standard office furniture is a fixed asset that usually does not carry the same value or risk as items classified under the finer arts or jewelry, and thus might not be as likely covered under an open peril basis. Consumable goods, on the other hand, are items that are used up and replaced regularly, making them less likely to be covered in a manner consistent with the open peril approach for higher-value possessions.

Thus, valuables like jewelry or fine arts fit the protective scope of an open peril basis more closely, as