Dwelling Policy Practice Test

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Prepare for the Dwelling Policy Test. Study with detailed quizzes including multiple choice questions and explanations. Master your exam!

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In the broad theft coverage endorsement, what is the correct limit for silverware?

$500
$1,000
$2,000
$2,500

The correct answer is: $2,500

The broad theft coverage endorsement is an important aspect of dwelling policies, specifically regarding the coverage of personal property in the event of theft. Silverware is categorized under this endorsement, and the correct limit for silverware coverage is set at $2,500. This amount reflects the insurer's assessment of the average replacement cost for such items, considering their value and potential for loss. This limit helps homeowners understand the extent of their coverage and ensures that they are adequately protected against theft of valuable items like silverware. Consequently, policyholders should take note of this limit when evaluating their insurance needs, especially if they possess higher-value items that might require additional coverage or endorsements to protect against potential loss.