Under the TWIA 365 endorsement, what is added to personal property coverage?

The correct answer is that the TWIA 365 endorsement adds replacement cost coverage to personal property coverage. This enhancement ensures that when a policyholder experiences a loss, the reimbursement they receive is based on the cost to replace the damaged or destroyed property, rather than its actual cash value, which factors in depreciation.

Replacement cost coverage is significant because it provides a more comprehensive level of protection for the insured. For example, if a policyholder's personal property is damaged, the endorsement allows for funds to be allocated to replace the item with a new one of similar kind and quality, therefore offering greater financial support in rebuilding after a loss.

In contrast, while actual cash value reflects the item's depreciated worth, deductible coverage pertains to the portion of a claim that the insured is responsible for paying out of pocket before the insurance pays, and wind and hail insurance refers to coverage specifically against those specific weather-related damages. None of these options enhance the personal property coverage in the same beneficial manner as replacement cost coverage does under the TWIA 365 endorsement.