coverage limit
Maximum payout amount
A coverage limit is the maximum amount an insurance policy will pay for a covered loss or claim.
Policies specify limits per incident, per person, or per policy period: The coverage limit on my auto policy is $100,000 per accident.
Damages exceeding the limit become the policyholder's responsibility.
- deductibleOut-of-pocket threshold amount
- out of pocketPaid from personal funds
- statutory limitsLaw-imposed boundaries
- claimStatement of ownership or truth
- amountTotal quantity present
exclusions · cap · policyholder · sublimit · premium · ceiling · aggregate · liability insurance · bodily injury · property damage · health insurance · risk assessment · renewal terms · underwriting · exposure · endorsements · claims history · liability
boundedness of protection
coverage limitno cap
Slang for genuinely
blanket coverage · unlimited liability · full coverage · comprehensive coverage