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 Posted: Wed Aug 01, 2007 1:13 pm Post subject: provide explanation of combined single |
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provide explanation of combined single limit of liability and split limit of liability for autombile insurance
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member - Nancy
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| Posted: Thu Aug 02, 2007 10:31 am Post subject: |
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Hi Nancy,
Combine Single Limit depicts that you are entitled to a single amount of coverage for any degree of bodily injury or property damages. The insurer will pay you the particular amount of coverage declared in your policy, no matter how many people were injured or how much worth of a property was damaged. On the other hand, split limit coverage sets sub-limits on what you can claim for the different damages.
Regards,
Juanita |
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Juanita
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Joined: 04 May 2007
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Location: Idaho
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| Posted: Thu Aug 02, 2007 10:44 am Post subject: Combine Single Limit Coverage v/s Split Limit Coverage |
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The advantage of combined single limit coverage is that you need not worry about the sub-limits of the coverages. It is more flexible. The combined single limit coverage normally scores over the split limit coverage when a particular type of damage is not getting entirely covered by the policy limit. With the split limit coverage you may have to pay the extra amount out of pocket.
Hope this information will help you. If you have any further queries please feel free to ask the community. fatman |
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fatman
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| Posted: Thu Aug 02, 2007 10:58 am Post subject: Combine single limit and split limit |
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Yeah right, I also agree with fatman. Combine single limit coverage offers more flexibility than split limit coverage. I had experienced a situation when I rear ended a car, the driver fortunately were not hurt much but the property damage was huge. The property damage claim not only had exhausted my coverage limit but had surpassed it with a good margin. That time I had realized the limitations of the split limit coverage. But generally you will find the insurance companies offering split limit coverages only.
Thanks and regards,
Georgia
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Georgia
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