What does Basic Limits of Liability mean? Read on to discover the definition & meaning of the term Basic Limits of Liability - to help you better understand the language used in insurance policies.
Basic Limits of Liability
Basic limits of liability refers to the lowest level of liability insurance that is legally allowed to be purchased for a certain liability. For example, people who drive cars must purchase at least a basic limit of liability insurance in order to legally drive the car. This liability insurance is typically offered in an auto insurance policy.
We hope the you have a better understanding of the meaning of Basic Limits of Liability.