Aggregate Limit

Aggregate Limit,

What is Aggregate Limit?

  • Aggregate Limit means, The insurance company will pay the maximum amount of insurance to settle the claim within a specified period. This is usually called an annual limit because its duration is usually one year. Once the claim is reached, the insurer will have to bear all the costs.

  • Meaning of Aggregate Limit: It usually deals with liability insurance and indicates the amount of coverage of the insured under the contract for a specific period, usually the term of the contract, regardless of the individual accidents. can.

  • The insurance company pays the maximum total amount to each policyholder. For example, an insured person incurs 100,000 liability in one accident and 114,000,000 liability losses in another accident, for a total of 4 4,214,000 in damages. If the total limit is $ 200,000, the policyholder will be liable for $ 14,000, although the limit of liability under this policy is 200 200,000 per event.

  • Generally, the entire amount is paid by the insurance company under the policy of liability for any loss incurred during the insurance period.

Literal Meanings of Aggregate Limit

Aggregate:

Meanings of Aggregate:
  1. Create forms or groups in classes or groups.

  2. Formed from a mixture of several (usually different) elements.

  3. A substance or structure consisting of a loose compressed mass of particles or fragments.

  4. Formation or calculation by combining several units or individual elements as a whole.

Sentences of Aggregate
  1. Butterflies gather in dense groups

  2. The council is a combination of three regional assemblies

  3. Samples are aggregates of rock and mineral fragments

  4. The total amount of the scholarship

Synonyms of Aggregate

mass, overall, clump, consider together, conglomerate, merge, heap, put, consolidate, total, unite, full, cluster, quantity, bundle, collect, combined, accumulated, composite, entire, bunch, complete

Limit:

Meanings of Limit:
  1. Set a limit or serve it.

  2. A point or plane where nothing can expand, or expand, or cross.

  3. Restrictions of any size or quantity are allowed or possible.

  4. A point or value in relation to which a sequence, function, or sum of money can gradually come closer and closer to the point where it reaches the desired point or value.

Sentences of Limit
  1. Boundaries of presidential power

  2. In fact, the configuration changes to a limit, the value of which is 2.7182818.

Synonyms of Limit

cap, upper limit, place a limit on, put a brake on, restrain, maximum, ceiling, hold, check, keep within bounds, hold in check, restrict, limitation, curb, freeze, peg

Aggregate Limit,

Definition of Aggregate Limit:

  1. Aggregate Limit definition is: The total amount is the maximum amount that the insurer will pay to settle the claim within a specified period. This is usually called the annual limit because its duration is usually one year. Once the claim is reached, the insured has to bear all the costs.

  2. Aggregate Limit refers to It usually refers to liability insurance and indicates that the insured has a certain amount of coverage for a specific period, usually a contract, regardless of the number of individual accidents. ۔

  3. The total amount, in dollars, that the insurer pays to the policyholder individually. Example: An insured person incurs 100,000 USD in one accident and 114,000 USD in another accident, resulting in a total loss of 214,000 USD. If the total limit is $ 200,000, the policyholder will be liable for $ 14,000, although the policy liability limit is $ 200,000 per event.

Literal Meanings of Aggregate Limit

Aggregate:

Meanings of Aggregate:
  1. A whole is made up of a combination of many different elements.

  2. A material or structure that has a slightly compressed mass of fragments or particles.

  3. The combination or calculation of many different elements as a whole

Sentences of Aggregate
  1. A specimen is a collection of boulders and minerals.

  2. The total amount of benefits paid

  3. The social professional group includes men who are involved in similar professions.

Synonyms of Aggregate

compound, pile, mix, mixture, amalgam, blend, conjunction, jumble, concentration, comprehensive, assemblage, accumulation, whole, synthesis, build-up, collection, hotchpotch, alloy, combination, miscellany, agglomeration, mixed bag

Limit:

Meanings of Limit:
  1. A point or plane where nothing can, or can't, expand or cross.

  2. Restrictions on the size or quantity of anything that is allowed or possible.

  3. A point or value that a series of verbs, verbs, or sums of money can gradually come close to unless it is close enough.

  4. Set or serve as a limit.

Synonyms of Limit

restriction, damp (down), control, curtailment, regulate, rein, fetter, trammel, restraint, damper, delimit, inhibit, demarcate, ration, bridle, govern, arrest, tie down, circumscribe