What is 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.

What is a aggregate limit?

Distinct from a per-claim limit, which states the amount an insurer will pay for each individual claim made during the policy period, the aggregate limit is the maximum amount an insurer will pay for all such claims made against the insured during the policy period, no matter how many separate claims might be made.

What is the aggregate limit in a commercial general liability policy?

Aggregate — (1) A limit in an insurance policy stipulating the most it will pay for all covered losses sustained during a specified period of time, usually a year. Aggregate limits are commonly included in liability policies.

What does aggregate mean in insurance terms?

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.