Aaa Mexican Insurance - Single Limits Or Split Limits?

Aaa Mexican Insurance - Even among experienced insurance personnel, I find confusion about the definition and application of the two types of Limits of Liability. I see agents warning shoppers to Beware of Separate Boundaries, as if we might need to wash our hands after buying.

Aaa Mexican Insurance - Single Limits Or Split Limits?

I see agents warning shoppers to Beware of Separate Boundaries, as if we might need to wash our hands after buying.

In reality, this fear tactic is unfounded, as either CSL or Split Limits may or may not be the best option, as it all depends on the actual amount of the limit, not just how it is applied in the losses incurred.

A Single Combined Limit, i.e. a CSL Limit of $50,000 or $100,000 applies to Body Injury OR Property Damage. In other words, the maximum the insurance company will pay for damages that have been deemed caused by you, (your fault) is $50,000 or $100,000. The loss may be all bodily injury or all property damage or a combination of both, but the maximum amount covered is $50,000 or $100,000 depending on the amount of coverage you decide to purchase.

Split limits such as $100,000 bodily injury per person/$300,000 bodily injury per accident/$100,000 property damage mean that the insurance company is required to pay up to $300,000 in bodily injury claims depending on how many people were injured & the extent of their injury AND up to $100,000 in damages claims property.

So insider fan, hypothetically, which one do you prefer,

A. $50k CSL or B. Split Limit $50k per person/$50k per accident/$50k Property Damage? My preferences are at the bottom

TIP: We recommend a minimum of $50,000 Property Damage if you crash into someone else's new SUV.

My Preference: B because I would have $50K BI AND $50K PD, a maximum of $100,000 protecting against losses versus $50K for protecting against all potential losses in example A.

If you are confused or unsure in any way about how much exposure you are willing to take, consult your personal financial or legal advisor. The above information is intended to be used for general educational purposes only.

That's Aaa Mexican Insurance - Single Limits Or Split Limits?

TAG :

aaa mexican insurance, insurance personnel, insurance company , split limits

Post a Comment for "Aaa Mexican Insurance - Single Limits Or Split Limits?"