What does the Limit of Liability/Aggregate Limit of Liability mean?
The Limit of Liability refers to the maximum an Insurer will pay for any single claim. The Aggregate Limit of Liability refers to the maximum an Insurer will pay during a policy period. Subject to a claim being insurable, as long as the single claim limit does not exceed your Limit of Liability and the maximum of all claims does not exceed your Aggregate Limit of Liability, you would have coverage. Should a single claim exceed your Limit of Liability, you would be liable for the uninsured difference.
