Your client owns a $500,000 HO-5 policy on their home. They experienced extensive damage on the unattached garage. Assuming that the couple does not own an endorsement for additional coverage what is the standard limit of coverage on the loss?

Question

Quizplus · Accepted Answer

The standard limit of coverage for other structures, like an unattached garage, under an HO-5 policy is typically 10% of the dwelling coverage. Therefore, with a $500,000 policy, the coverage for the unattached garage would be $50,000.

Your Client Owns a $500,000 HO-5 Policy on Their Home