Question

Tom leaves his personal laptop at Smith & Co. so a colleague can work on a presentation. While the laptop is in the care of Smith & Co., it is destroyed by a fire in the break room. The laptop was worth $3,200. How much indemnification would Smith & Co.'s Business and Personal Property Form provide for the damaged laptop?

A. $0
B. $700
C. $2,500
D. $3,200

Answer 1

The indemnification amount for Tom's laptop under Smith & Co.'s Business and Personal Property Form depends on the terms of the policy, which are not provided in the question. Without this information, it's impossible to confidently determine the correct coverage amount.

Step-by-step explanation:

The question pertains to the amount of indemnification that would be provided under Smith & Co.'s Business and Personal Property Form for Tom's personal laptop that was destroyed by a fire while in their care. The indemnification amount can only be determined by the specific terms of the policy under which the laptop was insured. Without those details, it is not possible to confidently provide a correct answer.

Most commercial property insurance policies have specific limits and exclusions for personal property, and factors such as whether the property was in the care, custody, or control of the business could significantly affect the coverage. Normally, a business might not be responsible for personal belongings unless they specifically agreed to cover such items, or there is a legal liability involved.