This coverage pays a certain amount for each injured person and a total amount per accident for all injured persons.

What are split limits in insurance. If your policy limits are 100300100 you have a split limits policy. Split limits coverage is a set of limits on payments for auto insurance claims that is split into different categories. The second limit is a per occurrence limit.

A combined Single Limit policy provides coverage for personal injury and property damage. The maximum amount that will be paid to all injured persons. Split limit policies are typically cost-effective with lower premiums than other policy types.

This type of liability limit is expressed in three numbers such as 250500100. Under the split limit coverage these numbers would mean that you have 50000 of bodily injury coverage per person per accident 100000 total for all injuries per accident and a 25000 limit for property damage done in one accident. They have separate limits for bodily injury and property damage.

Split Limit Liability is the most commonly used form of liability but is broken up differently than Combined Single Limit coverage. The policies generally come with three types of claims including bodily injury per person bodily injury per accident and property damage per accident. There are three areas you need to be aware of when it comes to split limit coverage and they are bodily injury per person bodily injury per accident and property damage coverage.

This means 100000 medical bodily injury coverage per person 300000 bodily injury coverage for the entire accident and 50000 total property damage limits. Benefits of a Split Limit Insurance Policy. This kind of coverage usually splits the amount of coverage three ways.

If it is split limit coverage it will be broken down as for instance 10030050. A split limit is an insurance policy provision that states different maximum dollar amounts the insurer will pay for different components of a claim. With split limits three separate dollar amounts apply to each accident.