What Does Monetary Threshold Mean?

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What does Monetary Threshold mean? Read on to discover the definition & meaning of the term Monetary Threshold - to help you better understand the language used in insurance policies.

Monetary Threshold

Monetary Threshold

In no-fault auto insurance, a threshold based on a person's degree of injury (as measured by dollars of medical cost incurred) that must be reached before a suit can be brought against the negligent party. Contrast with Verbal Threshold and Tort Threshold.

We hope the you have a better understanding of the meaning of Monetary Threshold.

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