What Is Split Limit Liability?

January 27, 2012

Split limit liability sounds like a confusing term. Though once broken down, it is not. Split limit liability insurance uses three different amounts for three different aspects of your coverage -- individual bodily injury, bodily injury for an accident (no matter how many people are involved in it), and property damage liability.

Split limit liability insurance is generally more expensive than single limit liability, but in turn you get much more coverage for yourself, your family, and in the event of an accident, the person who you are involved with. You can, for example, set a high limit for your personal injury, but a lower limit for your property damage if you have an older car that isn't worth as much money as one that's only one or two years old.

This type of insurance lets you choose what you want to cover based on your needs and expenses, and is therefore the ideal choice for budget minded people, parents, and people who frequently drive with many people in their cars.

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