What does Aggregate Limit mean? Read on to discover the definition & meaning of the term Aggregate Limit - to help you better understand the language used in insurance policies.
An aggregate limit is the highest amount of money an insurer will pay out to settle claims in a given time period. It is commonly known as an annual limit as the time period is commonly a year. Once the claims amount to this limit, the policyholder must cover any expenses thereafter.
We hope the you have a better understanding of the meaning of Aggregate Limit.