Endorsements & LiabilityQuestion 88 of 158
An insured with an HO-3 policy adds a Scheduled Personal Property endorsement for her jewelry collection. Which statement BEST describes the coverage provided for the scheduled jewelry?
a.Coverage is on an open-perils basis, applies worldwide, typically has no deductible, and includes mysterious disappearance
b.Coverage replaces the dwelling Coverage A limit when the jewelry is stolen
c.Coverage applies only to perils named in the underlying HO-3 contents form
d.Coverage is limited to losses that occur inside the residence premises only
Explanation
Scheduled Personal Property removes the unscheduled special-limit cap on jewelry. Each item is listed and appraised. Coverage is generally on an open-perils ("all risk") basis with no deductible, applies worldwide, and notably includes mysterious disappearance, which the base HO contents form excludes.
Law Reference: ISO HO 04 61 Scheduled Personal PropertyPractice all 158 questions free — no signup required.
Related questions on this topic
- A homeowner buys a $1,000,000 Personal Umbrella Policy (PUP). Which feature most accurately describes how the PUP responds to a covered liability loss?
- Which of the following losses would be covered ONLY after a Personal Injury endorsement is added to a homeowners policy?
- A heavy rainstorm causes the municipal sewer to back up through floor drains, flooding the insured's finished basement. Under a standard HO-3 without endorsements, what is the likely coverage outcome?
- A California homeowner wants earthquake coverage. Which statement is MOST accurate about earthquake insurance in California?
- Which statement about residential flood insurance is correct?
- Tenant Rachel buys an HO-4 renters policy. Which coverage is provided by the HO-4 that DIFFERS from what an HO-3 owner would receive?
Last reviewed: · editorial process
Sen Lin, PrepPass Founder · Verified against California Personal Lines Insurance License Exam · How we review