Sec. 7. (a) Except as provided in subsection (b), the liability of a bed and breakfast establishment for the loss of a guest's personal property may not exceed two hundred fifty dollars ($250) for each guest as follows:
(1) The loss of a trunk or chest and the contents, liability of not more than one hundred fifty dollars ($150).
(2) The loss of a traveling bag or suitcase and the contents, liability of not more than fifty dollars ($50).
(3) The loss of a box, bundle, or package and the contents, liability of not more than ten dollars ($10).
(b) An operator of a bed and breakfast establishment may assume liability in excess of two hundred fifty dollars ($250) for each guest for loss of personal property if the guest and operator do the following:
(1) Itemize the personal property and the personal property's value.
(2) Agree in writing to the kind and extent of the liability.