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
Meanings of Aggregate:
Create forms or groups in classes or groups.
Formed from a mixture of several (usually different) elements.
A substance or structure consisting of a loose compressed mass of particles or fragments.
Formation or calculation by combining several units or individual elements as a whole.
Sentences of Aggregate
Butterflies gather in dense groups
The council is a combination of three regional assemblies
Samples are aggregates of rock and mineral fragments
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
Meanings of Limit:
Set a limit or serve it.
A point or plane where nothing can expand, or expand, or cross.
Restrictions of any size or quantity are allowed or possible.
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
Boundaries of presidential power
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