The limits of protection the insured has in a liability policy.
The maximum amount for which a Liabilty Insurance company provides protection in a parti policy.
The maximum amount your liability policy will pay. Your policy must pay at least $20,000 per person for injuries and deaths, up to $40,000 for all victims of an accident, plus $15,000 for property damage. You can purchase higher liability limits for additional premium.
The maximum dollar amount for which the insurer is responsible under a given policy.
The maximum amount of money a policy will pay in the event of a claim. Depending on the type of policy, defense costs may or may not be included in the limit of liability.
The stipulated sum or sums beyond which an insurance company is not liable to protect the insured.
The largest amount of money an insurer will pay in case of a covered loss. Loss: The basis on which an insurance claim is submitted and/or paid.
(Limite de la garantie or Montant de la garantie) Liability policies set out the maximum amount of insurance (excluding legal costs) for which the insurance company is liable under the policy. Generally the cost of investigation, defense, court costs, etc. are included in addition to the quoted limits. In many instances, such as automobile insurance, the limit is an amount per accident. The limit for personal injuries may be different on a particular policy from the limit with respect to damaged property. On other forms such as products, malpractice and contractors liability, the amount quoted is frequently a total amount to be paid during the policy period. In accident type insurance, as for example medical expense on automobile policies, the limit is frequently quoted per passenger even though the number of passengers at a particular time is not known.
the sum or sums beyond which a liability insurance company does not protect the insured on a particular policy. The majority of policies covering liability for bodily injury have two limits, a limit of liability to any one person and, subject to this personal limit, another (and usually higher) limit for any single accident, where more than one person is involved. Coverage for property damage is usually written with a limit per accident, and may also include an aggregate limit of liability for the total amount of all claims during the policy period. Basic limits of liability are the lowest limits which are ordinarily written and are the limits contemplated by manual rates and minimum premiums.
The maximum amount of insurance provided under a policy of liability insurance. There may be different limits for bodily injury and property damage, or, more commonly, a single amount for all claims for bodily injury or property damage arising from one accident or occurrence. Policies providing cover for claims arising from products manufactured by the insured or arising from his completed operations generally contain a further "aggregate limit" applicable to these, imposing a maximum for all claims occurring during the course of a single year. Claims handling and adjusting expenses, costs of legal defense and prejudgment interest are normally payable in addition to the liability limits stated in the policy.
The maximum sums listed on a liability policy which an insurance company provides protection.
The limit of insurance the company will pay for on a particular policy.