Securities were stolen and later valued; what would be paid?

• A. $150,000
• B. No coverage
• C. $162,000
• D. $175,000

Answer: (C)

For theft of securities, the payout is based on the market value of the securities at the moment the loss occurred, not on later valuations or what you paid for them. If the market value at the time of theft is 162,000, that is the amount the insurer would pay (subject to policy limits and deductibles).

So, even if the securities were later valued differently, the settlement reflects the value when they were stolen. A lower amount like 150,000 would ignore the market value at the loss date, and a higher amount like 175,000 would only apply if the loss date’s market value were that high. The existence of a theft coverage means there is coverage for the loss, not a denial.