policy limit
Maximum insurance payout
A policy limit is the maximum amount an insurance company will pay under a particular policy.
Coverage stops at this ceiling regardless of actual damages: The policy limit was $100,000, but the accident caused $250,000 in damages.
Policies may have separate limits for different types of coverage—bodily injury, property damage, or per-incident caps.
- out of pocketPaid from personal funds
- coverageExtent of inclusion
- claimStatement of ownership or truth
- claims adjusterInsurance payout determiner
- risk assessmentEvaluating likelihood of harm
coverage cap · underwriting · indemnity · exclusions · fine print · reserve fund · reinsurance · sublimit · liability · endorsement · insured value · rider · payout structure · regulatory oversight · contract law · bad faith · consumer protection laws · fiduciary duty
- accident claimsaccident claim, car accident claim, damage claim, injury claim, liability claim
- insurance payoutsclaim, death benefit, life insurance payout, lump sum, final settlement
- coverage limitscoverage cap, sublimit, aggregate, ceiling, maximum
- exclusionsexclude, exclusion, excluding, except, exception
- injury claimspersonal injury, injury claim, injury settlement, insurance claim, bodily harm
- insurance claimsclaim form, claim filing, claim settlement, claims processing, claims adjuster
policy limitno cap
Slang for genuinely
full coverage · blanket coverage · unlimited liability · comprehensive coverage · deductible
policy limitpremium
Added cost for better
deductible · out-of-pocket maximum · copayment · coinsurance · excess
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