How much will Craig's HO-3 policy pay for the claim regarding his cabin's contents being stolen?

The correct answer reflects the coverage limits set within Craig's HO-3 homeowners policy regarding personal property. An HO-3 policy typically provides actual cash value coverage for personal belongings unless a specific limit applies. In this scenario, $15,000 likely represents the limit of coverage for personal property under Craig's policy.

This amount is not only reasonable for contents in a cabin but also falls within standard coverage expectations for such policies, ensuring that if contents are stolen, personal items can be covered up to that amount.

Understanding what is covered under an HO-3 policy is essential, as it generally includes theft of personal property unless specifically excluded. This understanding helps policyholders prepare for claims appropriately, knowing the limits and coverage in advance.