What limit applies for loss of business personal property while away from the premises?

In homeowners policies, coverage for business personal property that is temporarily away from the insured premises is subject to specific limits. The correct limit for loss of business personal property while away from the premises is indeed $500. This limit is set to recognize that homeowners policies are primarily designed to cover personal and residential activities, rather than extensive business operations.

When business property is brought away from the home, it remains a risk that is not covered to the same extent as property that is within the home. The $500 limit reflects this reduced coverage, emphasizing that while some business-related items are covered, the protection is limited compared to what would be available on the policyholder's main premises.

The other options present higher limits that do not align with the standard provided in most homeowners policies for loss of business property while away from the premises. Understanding this limit is crucial for homeowners who operate a business from their residence, as it helps them plan accordingly for potential losses and may encourage them to seek additional coverage if their business activities extend beyond this threshold.