An insured has an antique or specialty auto that you insure on a "stated" amount. That means that, if the vehicle is destroyed by a covered peril, your insured will collect the stated value, right? The same insured has personal property that you've scheduled on the HO-61 endorsement. If that property is destroyed by a covered peril, your insured will collect the scheduled amount, right? Speaking of limits, if you agree with these statements, then you'd better check your E&O limits!
Big ‘I” members must be logged in to view all the content on this page.