What is the maximum amount of coverage of a 20/40/15 policy?

Question

Quizplus · Accepted Answer

The numbers in a 20/40/15 insurance policy refer to the maximum amount of coverage provided for bodily injury per person, bodily injury per accident, and property damage per accident, respectively. In this case, the policy would provide a maximum coverage of $20,000 per person for bodily injury, $40,000 total for bodily injury per accident, and $15,000 for property damage per accident. Therefore, the maximum amount of coverage for this policy would be $40,000 for bodily injury and $15,000 for property damage, totaling $55,000. Option A, $75,000, is higher than the maximum coverage provided by the policy and is therefore incorrect. Option C, $40,000, is the maximum coverage for bodily injury, but does not include property damage, so it is also incorrect. Option D, $35,000, is lower than the maximum coverage provided by the policy and is therefore incorrect.

What Is the Maximum Amount of Coverage of a 20/40/15