Resource Library

Miscellaneous Personal Property Coverage

Date: April 2020

Miscellaneous personal property coverage is part of MCIT’s inland marine coverage for miscellaneous items that are portable. It covers physical damage as a result of a covered loss for scheduled items not appropriately covered under contents, contractors equipment or electronic data processing equipment.

Items to Consider for Coverage

This is a list of the most common items; it is not all inclusive:

  • boats/motors
  • snowmobiles
  • all-terrain vehicles (ATVs)
  • personal watercraft
  • golf carts
  • sheriff’s equipment not permanently mounted in squads
  • portable radio units (not ARMER radios)
  • removable docks
  • canoes
  • pedal boats
  • emergency management equipment
  • rescue/dive equipment
  • SWAT team equipment
  • survey equipment

Members need to list individual items on their inland marine schedule under miscellaneous personal property. Members should submit an online schedule change request through the online member portal of  to add or delete items as necessary. MCIT’s inland marine miscellaneous personal property coverage is provided on an actual cash value basis. Depreciation should be considered when determining the actual cash value of an item.

Members should review the inland marine schedule annually for accuracy and the appropriate value for items as they continue to depreciate.

When determining items to schedule, members should remember miscellaneous personal property coverage requires a deductible. Small items may be under the member’s deductible amount, and it may not be cost-effective to schedule the property. Alternatively, members should consider how many individual items may be lost in any one occurrence. Members decide the particular deductible, which can be found on the schedule. A common deductible amount for miscellaneous personal property is $1,000.

Consider Other Property Coverage

If the portable item considered for coverage stays within 500 feet of a covered building location and remains there, it is considered part of the contents coverage. Contents coverage provides replacement cost of the item instead of actual cash value on the miscellaneous personal property.

When the item considered for coverage is electronic in nature, it should be added to the electronic data processing (EDP) inventory to be included with the EDP coverage. EDP offers broad coverage for exposures such as artificially generated electric injury or disturbance, which is excluded on miscellaneous personal property. EDP also offers replacement cost coverage instead of actual cash value.

For a larger piece of equipment, such as a road grader or front end loader, the item should be added to the on the inland marine schedule as contractors equipment.

Recommendations

  • Understand the differences between MCIT’s miscellaneous personal property, contents, electronic data processing and contractors equipment coverage. The different lines of coverage have varying valuation methods, limitations and exclusions.
  • Review the item that is being considered for coverage and decide which property or inland marine coverage best suits it.
  • Maintain and update schedules for new items that need coverage or items that should be deleted.
  • For each item, review the value listed on the inland marine schedule to ensure the amount of coverage reflects the actual cash value.

MCIT encourages members to contact their risk management consultant toll-free at 1.866.547.6516 if they have questions concerning miscellaneous personal property.