General Aggregate Limit
The maximum amount an insurance policy will pay for all covered liability claims during the policy period
Detailed Explanation
This limit acts as a cap on the total amount the insurer will pay for covered claims in a given policy period, regardless of how many individual claims are filed.
Practical Example
A business has a general liability policy with a $2 million general aggregate limit. If they face multiple liability claims in one year totaling more than $2 million, they would be responsible for any amounts exceeding this limit.
Frequently Asked Questions
Related Terms
Need Insurance Coverage?
Request quotes from top insurance providers and find the best coverage for your needs.
Get Free Quotes