INSURANCE DEFINIATIONS

What Is an
Aggregate Limit?

An Aggregate Limit is the maximum amount an insurance policy will pay for all covered claims combined during a single policy period.

Once the aggregate limit has been reached, no additional covered claims will be paid until the policy renews, even if individual claim limits have not been exceeded.

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EXAMPLE

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COMMON POLICIES

General Liability

The maximum amount the policy will pay for a single covered claim or occurrence.

Professional Liability

The maximum amount the insurance company will pay for a covered loss as stated in the policy.

Umbrella Insurance

Extra liability coverage that goes beyond the limits of your underlying insurance policies.

RELATED TERMS

Per Occurrence Limit

The maximum amount the policy will pay for a single covered claim or occurrence.

Policy Limit

The maximum amount the insurance company will pay for a covered loss as stated in the policy.

Umbrella Insurance

Extra liability coverage that goes beyond the limits of your underlying insurance policies.

Have Questions About Your Coverage?

Our experienced advisors can help you understand your policy limits and make sure you have the right protection.

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