What do the limits of insurance mean?

Answer Answer The limit is the maximum amount of $$ the company will pay for each component arising out of a claim.

Top Q&A For: What do the limits of insurance mean

What are upper limits in insurance?

Umbrella policies are often written as "following form" which means it only provides coverage if your primary (i.e. homeowners policy) provides coverage. Ask your insurance agent if you need to add... Read More »

What is the meaning of liability insurance written in three limits?

General liability insurance policy limits are commonly given in three amounts: per occurrence, general aggregate and products/completed operations aggregate. Automobile liability limits have thre... Read More »

Insurance Liability Coverage Limits?

Liability insurance pays for personal injury or property damage you may cause as a result of negligent acts. It does not pay for intentional acts that cause harm and does not pay for punitive damag... Read More »

How to Determine Car Insurance Liability Limits?

American drivers have choices in how much car insurance they take out for themselves and their vehicles. Almost all states mandate minimum liability policies, with few exceptions. However, the stat... Read More »