To be licensed, what is the total insurance amount required for property damage?

The requirement for property damage insurance specifies that an agent must have coverage of $100,000 specifically for each instance of property damage. This means that in cases where a liability situation occurs, the agent must have sufficient insurance to cover any potential damages up to $100,000 per incident. This coverage is designed to protect against claims arising from property damage that might occur during the course of business activities.

In this context, it’s important to understand that the coverage amounts often refer to limits per occurrence rather than a total aggregate limit. Option D directly addresses this specificity by stating the amount required for property damage, ensuring that it captures the necessary understanding of coverage limits that agents must maintain to comply with licensing requirements.