Aggregate Limit [Insurance] Law and Legal Definition
Aggregate limit refers to the maximum amount up to which a liability insurance coverage extends for a specific period of time. Even if multiple accidents occur, the coverage will extend only up to the contract period. Aggregate limit is the maximum dollar amount that an insurer will afford to settle all claims for a specific period. This is also called annual limit since most of the insurance contracts extend only for a period of one year.
Legal Definition list
Related Legal Terms
- Accelerated Life Insurance Benefits
- Accident Insurance
- Accidental Death and Dismemberment [Insurance]
- Accommodation Line [Insurance]
- Accountants Professional Liability Insurance
- Accounts Receivable Insurance
- Actual Cash Value Insurance
- Actual Delivery of Insurance Policy
- Actuarial Documents [Federal Crop Insurance Corporation]
- Actuarially Appropriate [Federal Crop Insurance Corporation]
