South Carolina Personal Lines Practice Exam

For the theft of silver/gold-plated ware, what is the limit under HO policies?

1. $1,000

2. $1,500

3. $2,000

4. $2,500

The correct answer is: $2,500

The limit for the theft of silver and gold-plated ware under Homeowners (HO) policies is set at $2,500. This coverage limit is specifically designated for certain categories of personal property to address the increased value associated with these types of items. Homeowners policies typically have specific provisions regarding the protection of personal property, particularly for high-value items such as jewelry, fine arts, and silverware. The limit for theft of silver or gold-plated ware is aimed at ensuring that policyholders receive a reasonable amount of coverage without overextending the insurer's liability. Understanding these limits is essential for homeowners to assess their personal property coverage adequately. It's also important to recognize that this limit may vary for different forms of valuable personal property and that there could be additional coverage options available, such as scheduled personal property endorsements, which offer higher limits for specific items when necessary.