This is the maximum amount the insurance company will pay per incident, regardless of the number of persons injured (claimants).
Many times, your rental/lease agreement will dictate what this limit must be. They will usually require a minimum of $1,000,000 per occurrence . In today’s litigious environment, it is no longer unusual to see $5,000,000 & $10,000,000 limit requirements. Especially on higher risk events.« Back to Glossary Index