Will Ralph’s HO-3 insurer cover the loss of his coins stolen from his automobile?

The correct answer indicates that coins are covered under Ralph's HO-3 policy, but this coverage is subject to a specified limit. The HO-3 homeowner's insurance policy provides broader coverage for personal property, including items like coins. However, valuable personal property such as coins, jewelry, and collectibles often has specific limits unless additional coverage is purchased.

In this context, the policy does include coverage for theft or loss of personal property from an automobile, but the coverage may fall within a set monetary limit, typically lower than what would be available for a general property loss in the home. Therefore, while Ralph's coins might be covered under his policy, that coverage would not be unlimited, reinforcing the idea that certain classes of property, such as coins, have specific limitations in terms of insurance payouts.

This context illustrates why the other options do not hold up as well. The claim that coins are never covered is incorrect, as they can be included within broader personal property coverage. Additionally, the idea that coins are only covered from the home overlooks the fact that personal property can be covered even when stored or used outside the residence, particularly in the event of theft. Lastly, stating a specific coverage limit without acknowledging the fact that it may fall under general coverage doesn’t