what does general aggregate limit mean in insurance
What is 'Aggregate Limit Of Liability' The aggregate limit of liability is the most an insurer is obligated to pay to an insured party during a specified period. The aggregate limit of liability is spelled out in the insurance contract and caps the amount of covered losses for which an insurer will pay. These limits are part of commercial and professional general liability insurance policies. BREAKING DOWN 'Aggregate Limit Of Liability' Insurance policies limit not only how much they will pay for a single incident, but the aggregate limit of liability is the limit for the entire policy term, which is typically one year.