What does Split Limits mean? Read on to discover the definition & meaning of the term Split Limits - to help you better understand the language used in insurance policies.
In auto insurance, where rather than one liability amount applying on a per accident (occurrence) basis, separate amounts apply to bodily injury and property damage liability. For example, a liability limit of 100/300/100 means bodily injury limits of $100,000 per person, $300,000 per accident and a property damage limit of $100,000 per accident.
We hope the you have a better understanding of the meaning of Split Limits.