In an automobile insurance policy, the only limit of liability that you are concerned with in this case is the aggregate limit.Once all losses equal this limit, you will have to bear the burden of any further liability.Identify this limit of liability.
A)Double limit of liability
B)Split limit of liability
C)Tort limit of liability
D)Multiple limit of liability
E)Single limit of liability

Question

Quizplus · Accepted Answer

The correct answer is E) Single limit of liability. This type of limit refers to a single dollar limit that applies to any combination of property damage liability and bodily injury liability claims. Once the aggregate limit is reached, the policyholder is responsible for any additional costs.

In an Automobile Insurance Policy, the Only Limit of Liability