Aggregate product liability limit is the maximum amount of money an insurance company will pay when a product's liability insurance coverage is in effect.

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Business liability insurance protects the financial interests of companies and business ...

Your liability insurance would only cover your legal defense costs, settlements and judgment up to the policy limit, meaning you would be on the hook for the $500,000 shortfall.

Insurance companies set policy limits for coverage, which typically max out at $500,000. If you want more coverage than your policy offers, consider getting a personal umbrella liability insurance ...

If you have assets of $100,000 or more, consider an umbrella policy or personal excess liability insurance. Both are forms of supplemental coverage with higher limits. In other words, an umbrella ...

Liability limits are often expressed with three numbers separated by slashes, such as 25/50/25 or 100/300/100. These are referred to as split limits. The first two numbers are the BI limits, ...

For example, in Utah, the only coverage required for auto insurance is the liability limit of 25/65/15, meaning $25,000 per person, $65,000 per accident, and $15,000 for property damage.

The other policy types are optional, but if you have any of them, the liability limit must be at least $100,000. Auto $250,000 bodily injury liability per person.

The last time liability limits in California increased was in 1967, even though it is by far the state with the most drivers and lowest minimum requirements on car insurance. Starting January 1 ...

How to understand bodily injury liability limits. Your bodily injury coverage is stated in part of a three-number format such as "25/50/25." In the three-number format, the first two numbers are the ...