An insured schedules a $12,000 ring on a scheduled personal property endorsement. If the ring is stolen, the policy pays:
Explanation
Scheduling lifts an item out of the Coverage C special limits: it is listed with an agreed amount, insured on an open-perils basis and, on the standard endorsement, paid without the Section I deductible, so the full $12,000 is available. Quoting the $1,500 theft cap for jewelry ignores the whole point of scheduling. Depreciation is not applied to a scheduled item of this kind.
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