Insurance Liability Limits Quiz

Bodily injury liability per person, bodily injury liability per accident, property damage liability coverage per accident (correct)

Per accident limit, bodily injury liability per person, combined single limit

Aggregate limit, bodily injury liability per accident, per occurrence limit

Bodily injury liability per person, property damage liability coverage per accident, per claim limit

Maximum amount the insurance will pay over the policy's duration

Maximum amount the insurance will pay for a single claim

Maximum amount the insurance will pay out per accident where you're at-fault (correct)

Maximum amount the insurance will pay for a single incident or claim

Bodily injury liability per person, property damage liability per accident, aggregate limit

Per occurrence limit, bodily injury per accident, property damage liability coverage per accident

All claim components to a single dollar amount (correct)

Per claim limit, aggregate limit, per accident limit

<p>To specify how much the insurance company will pay over the policy's duration</p> Signup and view all the answers

<p>Encouraging policyholders to have adequate coverage</p> Signup and view all the answers

<p>(Actual insured amount/Required insured amount) x Amount of loss</p> Signup and view all the answers

<p>When part of an insured property is damaged, but it still functions</p> Signup and view all the answers

<p>When something is damaged beyond repair or use</p> Signup and view all the answers