Split Limits: Indicate that the applicable coverage’s limits are separated into a limit per person and limit per accident.
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Example |
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Insured’s Coverage/Limit |
Bodily Injury coverage with a split $100,000 limit per person and $300,000 limit per accident |
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Accident damage caused by the Insured |
$175,000 in bodily injury damage for each of two people |
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Insurance would pay |
$200,000 (i.e. the $100,000 per person limit for two people) |
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Insured’s Out of Pocket |
The insured would owe $150,000 for the remaining damage to the injured parties. |
Combined Single Limit: Indicates that the applicable coverage has no per person limit but instead only requires a limit per accident.
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Example |
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Insured’s Coverage/Limit |
Bodily Injury coverage with a combined limit of $300,000 per accident |
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Accident damage caused by the Insured |
$175,000 in bodily injury damage for each of two people |
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Insurance would pay |
$300,000 (i.e. the $300,000 per accident limit) |
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Insured’s Out of Pocket |
The insured would owe $50,000 for the remaining damage to the injured parties. |
Special Note: Many combined single limit coverages also allow for the combination of distinct but related coverages. Please review coverage descriptions to determine when this might apply to your situation.
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Example |
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Insured’s Coverage/Limit |
Bodily Injury/Property Damage Combined Single Limit. In a scenario where the insured has applicable Bodily Injury/Property Damage Combined Single Limit coverage with a combined limit of $300,000 per accident |
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Accident damage caused by the Insured |
$75,000 in bodily injury damage for each of two people and $175,000 in property damage |
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Insurance would pay |
$300,000 (i.e. the $300,000 per accident limit related to both bodily injury and property damage) |
See policy forms for full details.