(g) A creditor may not contract for or receive a separate charge for insurance against loss
of or damage to
property or against liability for
property damage or
personal injuries
unless the original amount financed exclusive
of the charges for insurance is three hundred dollars ($ 300) or more and the
value of the
property is three hundred dollars ($ 300) or more.
The amount
of coverage for
personal property may be limited on certain types
of high -
value items, such as jewelry or artwork,
unless additional coverage is purchased for these items.