South Carolina Personal Lines Practice Exam

The broad theft coverage endorsement on the dwelling form specifies all of the following limits EXCEPT:

1. 200 on money

2. 1,500 on jewelry

3. 1,000 on silverware

4. 1,500 on securities

The correct answer is: 1,000 on silverware

The broad theft coverage endorsement on the dwelling form includes specific limits for various types of personal property that might be at risk of theft. The correct answer identifies that a limit of $1,000 on silverware is not part of the coverage provided by this endorsement. In the context of the broad theft coverage endorsement, the limits that are typically specified are for various categories of personal property like money, jewelry, and securities. For example, the endorsement generally allows for a limit of $200 on money, $1,500 on jewelry, and $1,500 on securities. This set of limits ensures that certain high-risk items are adequately covered while keeping the policy's focus on the more commonly stolen items. Therefore, while the coverage specifics clearly outline intended limits for money, jewelry, and securities, they do not include a limit for silverware that matches the given choices, identifying it as the outlier. This helps to highlight the importance of knowing precisely which items have stipulated limitations in a personal lines insurance policy.