What is General Aggregate limit?

Updated: 9/14/2023
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On a general liability policy, the general aggregate is the highest amount that will be paid out in a policy period no matter how many claims. For example, you may have a $1 million per occurrence limit which would mean with a $2 million aggregate, you could theoretically have (2) $1 million claims.

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Q: What is General Aggregate limit?
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Does the general aggregate limit apply to products-completed operations?

Your general liability policy contains three separate limits. A per occurrence limit (Max paid out for any one occurrence) Aggregate (Max pay out for multiple policies on claim) Products and completed ops aggregate (Can reduce amount paid for product or operations claims, to below the other aggregate limit or even the per occurrence limit. Lack of products and completed ops coverage can also be a problem which would show no product and completed ops limit. yes - there is a separate aggregate for products coverage and premises operations.

How does commercial general aggregate insurance protect the customer?

The aggregate limit can be higher than the per occurrence limit of the policy, thus providing additional coverage should multiple claims be filed against the insured.

What is the limit per project to the commercial general aggregate?

This will vary with the surety company and the state in which you reside. No easy answer.

What is no limit to the commercial general aggregate?

this means that the ins co. will cover all the accidents during this policy period

What does Aggregate mean in general liability?

In a insurance policy, the limit of liability is often expressed as a value per occurrence and a separate value as an aggregate limit. The policy will pay no more than the per occurrence limit for each covered occurrence Further, the pay no more than the aggregate limit for all claims during the policy period. On an insurance policy it would often be expressed as $1,000,000/$2,000,000 occurrence / aggregate The numbers listed above could be replaced by any other number, however the aggregate limit will never be less than the per occurrence limit. Alternatively, the limit could be split between per claim and aggregate instead of per occurrence and aggregate This has no effect on the meaning of aggregate in the policy. Mark Walters, ARM AAI West Insurance Group In a nutshell, aggregate means the total paid out for all incidents during the policy period. In the above example you could have 2 claims during the insured period for $1m each but not 3, as 3 x $1m is more than the aggregate limit.

Aggregate limit of com umbrella is it for a year or total of one event?

Aggregate is total limit for all claims in the year.

Per location aggregate?

A "Per location aggregate" is an endorsement added to Commercial General Liability policies which extends separate liability limits for each location as opposed to sharing one limit. For example.... If you have a policy with 2 locations covered with a $1m Occurence/$2m Aggregate limit and you DO NOT have a "Per Location Aggregate" then both locations would share the $1m/$2m limit. If your policy includes a "Per Location Aggregate" Endorsement the both Location #1 and Location #2 would each have separate $1m/$2m limits in the event of a loss.

In the Commercial General liability what liability exposures has its own aggregate that is separate from the general aggregate?

Premises and operations.

What is class code 96317 for General Liability Insurance -?

Inspection and Appraisal 96317 Companies-Inspecting for Insurance or Valuation Purposes - Products - completed operations for this classification are subject to the General Aggregate Limit

What is the definition of per project aggregate?

The project agg must be added to a CGL by endorsement. This will provide for the full amount of your per occuerence limit to that project. If your policy limits are set for $1,000,000 per occuerence and a general policy aggregate of $2,000,000 you would be able to use the $1,000,000 limit for the per project aggregate. This is all subject to your carrier approving this type of transaction. However it is very commonly done.

What does general aggrEGATE insurance cover?

Aggregate = per year, which generally is the policy period.

What is Homeowners insurance stated aggregate limit?

Aggregate limits general are referring to the liability portion of the policy, the aggregate limit is a pre-determined dollar amount up to which an insurance policy will cover an insured per year or policy period or accident. As an example, your limit is 100k per person 300k per accident/loss, and 500k aggregate, so each person could get up to 100k per person, but only 300k per accident, and no more than (no matter how many accidents in that policy period) 500k aggregate....clear as mud isn't it? If you have a specific coverage that you are wondering about I would be happy to assit, check your policy for the length of the aggregate amount..should say , 'during policy period or per calendar year etc.''