October 7, 2013
Underwriting would like some clarification or an opinion on property of others. The insuring agreement under your business personal property provides coverage for personal property of others that is in the insured's care, custody, or control. The form further states under coverage extensions b., personal effects and property of others, that the most the insurer will pay for loss or damage under this extension is $2,500 at each described premises.
Are we correct in assuming that the insuring agreement provides coverage for personal property of others while in the care, custody, and control of the insured, and the coverage extension limits the amount available to $2,500 per location?
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