Split Limits

Written by  //  June 24, 2011  //  Insurance Glossary: N-S, Insurance Terms  //  Comments Off on Split Limits

This coverage pays a certain amount for each injured person and a total amount per accident for all injured persons. This type of liability limit is expressed in three numbers, such as 250/500/100. Using this example, the first number means that $250,000 would be paid for bodily injury to each person, $500,000 is the amount of bodily injury that would be paid to all persons per accident, and $100,000 refers to the amount of all property damage that would be paid per accident. Liability limits can be offered as Split Limits or Single Limits, also known as Combined Single Limit.

Comments are closed.