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Aggregate limit of com umbrella is it for a year or total of one event?
Wiki User
∙ 16y ago
Aggregate is total limit for all claims in the year.
Wiki User
∙ 16y ago
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A policy with aggregate limits will limit only the what?
A policy with aggregate limits will limit only the total amount that an insurance company will pay out for all claims during a specific policy period. It sets a maximum limit for all claims combined, rather than a specific limit for each individual claim. Once the aggregate limit is reached, the policy will no longer provide coverage for any further claims.
What does lifetime aggregate borrowing limit mean?
The total amount of federal student loan money you can borrow in your lifetime.
What does Aggregate mean in general liability?
In a insurance policy, the limit of liability is often expressed as a value per occurrence and a separate value as an aggregate limit. The policy will pay no more than the per occurrence limit for each covered occurrence Further, the pay no more than the aggregate limit for all claims during the policy period. On an insurance policy it would often be expressed as $1,000,000/$2,000,000 occurrence / aggregate The numbers listed above could be replaced by any other number, however the aggregate limit will never be less than the per occurrence limit. Alternatively, the limit could be split between per claim and aggregate instead of per occurrence and aggregate This has no effect on the meaning of aggregate in the policy. Mark Walters, ARM AAI West Insurance Group mwalters@westagy.com In a nutshell, aggregate means the total paid out for all incidents during the policy period. In the above example you could have 2 claims during the insured period for $1m each but not 3, as 3 x $1m is more than the aggregate limit.
What does in-force policy limit aggregate mean?
One Insurers total liability of a series of policies owned by the same Individual or Company
What is a sentence for the word aggregate?
The aggregate total of kids in class is 26.
What does per occurance mean in insurance?
Per occurance means for one event or one incident. Aggregate means the total it will pay out for the entire policy period.
How do you use aggregate in a sentence?
In aggregate, your earnings are impressive and enviable.The aggregate has the support of all the people in the neighborhood, would be one way to use aggregate in a sentence. Aggregate means a combined total or combined group.
Sir What is the aggregate marks if you have scored 239 out of 400?
Aggregate means Total Marks Obtained So you have obtained 239 Is ur Aggregate Mark from 400
What is the cost of 5000000 General liability insurance?
Most insurance companies will write 1,000,000 per occurrence with a 2,000,000 aggregate. If you wanted a total of 5,000,000 you would need a 4,000,000 umbrella/excess liability policy. But to answer your question it depends on the type of risk.
What are the components of Aggregate Supply?
aggregate supply is the total number of good and services produced in a country. The components are GOODS and SERVICES
What is aggregate income?
The total amount that households and businesses receive before taxes and other expenses are deducted is called aggregate income.
What is the difference between average and aggregate?
aggregate is the total of sum numbers(till now i used to take it same as average) while average is there sum divided by total number of numbers..:)
