Split Limit
What is it? Split limits restrict the maximum amount that a policy will pay for a specific type of loss, such as property damage and bodily injury. A split limits auto insurance policy, for example, might pay $50,000 per person and $150,000 per accident in bodily injury benefits, and $50,000 in property damage per accident. By contrast, a single limit policy might pay up to $200,000 for all property damage and bodily injury resulting from a single accident. Although the total amount of coverage is the same, the single limit policy is more flexible, because it doesnt cap the amount that can be paid for any type of loss.Added By: Rachel
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