What is the coverage limit for personal property under Craig’s HO-3 policy?

Under Craig’s HO-3 policy, the typical coverage limit for personal property is generally set at $150,000. This standard coverage applies to a wide range of personal belongings within the insured home, including furniture, electronics, and clothing, among other items.

This coverage is designed to provide financial protection for valuable personal possessions in the event of damage or loss due to covered perils like fire, theft, or vandalism. Limits may vary based on specific endorsements or additional coverages that the policyholder chooses to include, but the standard limit is indeed $150,000.

Understanding these coverage limits is crucial for policyholders to ensure they have sufficient protection in place for their personal property, as underinsuring valuable items may lead to significant out-of-pocket expenses in the case of a loss.