policy limits
Maximum payout boundaries
Policy limits are the maximum amounts an insurance company will pay under a policy.
Coverage stops at these caps regardless of actual damages: Her medical bills exceeded the driver's policy limits.
Different limits typically apply to different types of coverage—bodily injury, property damage, liability per incident.
We increased our policy limits after buying the house.
- payoutMoney distributed to recipient
- exclusionsThings deliberately left out
- personal injuryHarm to a person's body
- insuredProtected against loss
- claimStatement of ownership or truth
coverage · coverage gap · ceiling · sublimit · cap · subrogation · threshold · endorsements · out of pocket · aggregate · reinsurance · contract · exhaustion · risk assessment · indemnity · settlement · denial · bad faith
- auto insuranceauto insurance, car insurance, vehicle insurance, collision coverage, liability coverage
- insuranceinsurance, coverage, auto insurance, life insurance, home insurance
- accident claimsaccident claim, car accident claim, damage claim, injury claim, liability claim
- car insurancecollision, liability, comprehensive, premium, deductible
- D&O Insurancecorporate officers, board members, board member, corporate executives, executive protection
- liability clausesliability waiver, hold harmless, indemnification, indemnity, limitation
policy limitsno cap
Slang for genuinely
blanket coverage · full coverage · comprehensive coverage · umbrella coverage
policy limitspremium
Added cost for better
insurance premium · deductible · out-of-pocket costs · copay