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State Farm Special Limits of Liability 2023

The document outlines the Special Limits of Liability for various categories of property under a State Farm policy, detailing specific monetary limits for items such as money, business property, securities, watercraft, and collectibles. It includes coverage for theft of firearms, silverware, and electronic data processing equipment, as well as provisions for power interruption, arson rewards, and lock re-keying expenses. Each category has defined limits that do not increase the overall coverage limit.

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Brian Miano
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57 views2 pages

State Farm Special Limits of Liability 2023

The document outlines the Special Limits of Liability for various categories of property under a State Farm policy, detailing specific monetary limits for items such as money, business property, securities, watercraft, and collectibles. It includes coverage for theft of firearms, silverware, and electronic data processing equipment, as well as provisions for power interruption, arson rewards, and lock re-keying expenses. Each category has defined limits that do not increase the overall coverage limit.

Uploaded by

Brian Miano
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

State Farm Policy Study Test (Top latest

solution) 2023

What are Special Limits of Liability? - These limits do not increase the Coverage B
limit. The special limit for each of the following categories is the total limit for each
loss for all property in that category:

Money, coins and medals, including any of these that are a part of a collection, and
bank notes; - $200

Property used or intended for use in a business, including merchandise held as


samples or for sale or for delivery after sale - $1,000 - This coverage is limited to $250
on such property away from the residence premises.

Securities, checks, cashier's checks, traveler's checks, money orders and other
negotiable instruments - $1,000

Watercraft of all types and outboard motors, including their trailers, - $1,000

Trailers not used with watercraft; - $1,000

Stamps, trading cards and comic books, including any of these that are a part of a
collection; - $2500

Loss by theft of firearms - $2500

Silverware & gold ware - $2500


Electronic data processing system equipment and the recording or storage media -
$5000

Loss by theft of any rug, carpet (except wall-to-wall carpet), tapestry, wall-hanging or
other similar article. - $5000 on any one item; $10,000 in aggregate

Credit Card, Bank Fund Transfer Card, Forgery and


Counterfeit Money. - We will pay up to $1,000 for: the legal obligation of an insured to
pay because of the theft or unauthorized use - loss to an insured caused by forgery or
alteration of any check or negotiable instrument - loss to an insured through
acceptance in good faith of counterfeit United States or Canadian paper currency. No
deductible applies to this coverage.

Power Interruption - The power interruption must be caused by a Loss Insured


occurring on the residence premises. The power lines off the residence premises must
remain energized. This coverage does not increase the limit applying to the damaged
property

Arson Reward - We will pay $1,000 for information which leads to an arson conviction
in connection with a fire loss to property covered by this policy. This coverage may
increase the limit otherwise applicable. However, the $1,000 limit shall not be
increased regardless of the number of persons providing information

Locks. - We will pay the reasonable expenses you incur to re-key locks on exterior
doors of the dwelling located on the residence premises, when the keys to those locks
are a part of a covered theft loss.
No deductible applies to this coverage.

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