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.
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.