What does Split Limit mean? Read on to discover the definition & meaning of the term Split Limit - to help you better understand the language used in insurance policies.
A split limit policy is one that allocates specific portions of the total amount of coverage to particular risks. The division among the risks is expressed in numbers such as 200/100/50, meaning (in this case) that the limit is $200,000 for one specified risk, $100,000 for a second, and $50,000 for the third.
We hope the you have a better understanding of the meaning of Split Limit.