What is The Difference Between Split Limit Liability Coverage And Single Limit Liability Coverage?
Split limit liability is what you would typically see on a personal auto policy. The options are typically:
30/60/25
50/100/50
100/300/100
250/500/250
In these scenarios, the first number represents the limit for bodily injury per person. The second number is a per accident limit for bodily injury and the third is a per accident limit for property damage.
In a single limit policy (usually only available in a business auto policy) there is one cumulative limit to cover any injury or damage occurring from a covered accident.