North Carolina Adjuster Practice Exam

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A typical homeowners policy without a Home Business endorsement provides how much coverage for business personal property?

$1,000
$2,500
$5,000
$10,000

The correct answer is: $2,500

In a typical homeowners policy that does not include a Home Business endorsement, the standard coverage for business personal property is generally set at $2,500. This limit is intended to cover business-related equipment, tools, or inventory that may be stored in the home, but it is not designed for businesses operating in any significant capacity from the residence. Thus, if a homeowner is operating a business out of their home, the base limit provided by a standard policy without an endorsement may not sufficiently cover potential losses in the case of theft, damage, or other incidents involving business property. This highlights the importance of considering additional coverage options for those who use their home for business purposes, as the typical limit may not be adequate for their needs.