One cap for bodily injury coverage one cap for property damage and one cap for all injuries for the accident.

What are split limits in insurance. Split limit coverage splits the coverage amount into three limits such as 5010025. In this approach there are advantages and disadvantages that should be considered before purchasing car insurance. A combination of per-occurrence per-person and aggregate limits.

The second limit is a per occurrence limit. This video shows the difference between a split limit and a single limit auto insurance policy. They have separate limits for bodily injury and property damage.

Split limit policies are typically cost-effective with lower premiums than other policy types. Split limit insurance policies offer multiple limits or limits per type of expense. Split limit liability policies are easy to identify.

This type of liability limit is expressed in three numbers such as 250500100. Split Limit Liability Coverage A standard Split Limit Liability coverage is broken down as a 10030050 split. A split limit is an insurance policy provision that states different maximum dollar amounts the insurer will pay for different components of a claim.

It specifies limits for three specific types of claim. Bodily injury per person bodily injury per accident and property damage per accident. Benefits of a Split Limit Insurance Policy.

The split limit is a provision or a section in the insurance policy that gives a particular dollar value for different claims. This kind of coverage usually splits the amount of coverage three ways. To avoid problems and misunderstandings with the policyholder you have to define the coverage of the insurance contract clearly.