Which loss would be fully covered by a homeowners policy?

The correct answer is the loss of the $2,000 silver tea set stolen. A homeowners policy typically provides coverage for personal property, which includes valuable items like silverware. Personal property coverage generally applies to items owned by the policyholder or members of the household, including theft or loss of items in certain scenarios.

It's important to note that while some losses may seem significant, they may not be fully covered under a standard homeowners policy. For example, the loss of a $1,200 pedigreed golden retriever would not be covered since homeowners insurance usually does not extend coverage to pets as they are considered personal property in terms of liability but not in cases of theft or loss. Similarly, the destruction of a $24,000 bass boat during a tornado might not be fully covered if the policy does not explicitly include coverage for watercraft or if the damage exceeds certain limits. Finally, while a firearm collection may be covered, many policies set specific limits on the coverage of firearms and collectibles, and a $5,000 loss may exceed those limits or require additional coverage to be fully insured.

Thus, the silver tea set loss is the best fit for full coverage under a homeowners policy as it aligns with standard personal property protections typically provided by such policies