Question

When an industrial fire insurance policy is written in Mississippi, the maximum limit of coverage that may be written on the contents of any one dwelling is

A) $40,000
B) $30,000
C) $20,000
D) $10,000

Answer 1

The limit of coverage that may be written on the contents of any one dwelling is C) $20,000.

Step-by-step explanation:

When dealing with industrial fire insurance policies in Mississippi, there are state-specific regulations that determine the maximum limit of coverage for the contents of any one dwelling. These limits are set to ensure that both the policyholder and the insurance company are protected, and to comply with the state's insurance regulations.

When an industrial fire insurance policy is written in Mississippi, the maximum limit of coverage that may be written on the contents of any one dwelling is C) $20,000. This is because Mississippi law sets the maximum limit of coverage for the contents of any one dwelling under an industrial fire insurance policy at $20,000.

This is codified in the Mississippi Code of Laws, specifically Section 83-15-11. Here is the relevant text from the law: The maximum limit of coverage that may be written on the contents of any one dwelling under an industrial fire insurance policy shall be twenty thousand dollars ($20,000).

So the answer is option C.