What coverage amount is provided for theft or unauthorized use of a credit card under a homeowners policy?

What coverage amount is provided for theft or unauthorized use of a credit card under a homeowners policy?

• A. $100
• B. $500
• C. $1,000
• D. $5,000

Answer: (B)

Under a homeowners policy, the coverage amount provided for theft or unauthorized use of a credit card is typically $500. This amount reflects the insurer's standard limit for such coverage under the property section of the policy. It is designed to offer financial protection to policyholders who may suffer losses due to credit card theft, including unauthorized transactions or any associated losses that arise from the fraudulent use of the credit card. Homeowners policies often include additional features aimed at safeguarding the insured against various types of losses, and credit card fraud coverage is an important aspect as it provides reassurance to consumers in the event that their financial information is compromised.

Under a homeowners policy, the coverage amount provided for theft or unauthorized use of a credit card is typically $500. This amount reflects the insurer's standard limit for such coverage under the property section of the policy. It is designed to offer financial protection to policyholders who may suffer losses due to credit card theft, including unauthorized transactions or any associated losses that arise from the fraudulent use of the credit card. Homeowners policies often include additional features aimed at safeguarding the insured against various types of losses, and credit card fraud coverage is an important aspect as it provides reassurance to consumers in the event that their financial information is compromised.