What is the general aggregate limit?
The general aggregate limit applies to the total amount insurance companies will pay for covered losses during the policy period. If you reach the limit before the end of your policy period and there's another claim, you'll have to cover the costs out of pocket.
Which of the following would not reduce the general aggregate limit?
The only circumstances in which the general aggregate limit does not apply is to damages because of bodily injury or property damage arising out of the products-completed operations hazard.
What is an aggregate limit quizlet?
An aggregate limit is a contract provision used in insurance to limit the amount that can be paid in the policy period. An aggregate limit is the maximum dollar amount your insurer will pay to settle your claims.
How many limits are found in a CGL policy?
The CGL policy lists on the declarations six different limits. While the limits are separately listed, it is important to recognize that the limits are all interrelated. That is, payment of damages on one limit will also affect another limit. More on how this actually works later in this article.
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