Meaning Limits of liability
What does Limits of liability mean? Here you find 7 meanings of the word Limits of liability. You can also add a definition of Limits of liability yourself
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Limits of liabilityThe maximum amount an insurance company agrees to pay in the event of a covered loss.
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Limits of liabilityThe amount specified in your policy up to which the insurance company will protect you.
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Limits of liability The maximum amount of insurance the insurance company will pay for a particular loss, or for a loss during a period of time.
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Limits of liabilityThe maximum an insurance company will pay out in the case of an event covered by the insurance policy. Motor Vehicle Record (MVR)
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Limits of liabilityThe amount specified in your policy up to which the insurance company will protect you. Limits may apply to an individual accident and/or a specific period of time. Most states have laws that specify the minimum limit that must be purchased for each type of required insurance coverage.
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Limits of liabilityExcept for Motor Third Party Injury, which is an unlimited policy, liability policies normally contain a Limit of Liability stating the maximum amount insurers will pay for a particular event. This li [..]
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Limits of liabilityThe limits of liability is the maximum amount of insurance that will be paid for a covered loss. In Illinois, the minimum liability limits allowed by the state are $20,000 per person Bodily Injury/$40,000 per accident for Bodily Injury/$15,000 Property Damage.
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