What are policy limits in insurance?

What are policy limits in insurance?

Policy limits refer to the maximum amount an insurance company will pay for a covered loss. They are crucial for understanding your coverage.

How do I know what my policy limits are?

You can find your policy limits in your insurance policy document, usually in the declarations page or coverage section.

What happens if my claim exceeds the policy limits?

If your claim exceeds the policy limits, you will be responsible for paying the difference out of pocket.

Can I increase my policy limits?

Yes, you can typically increase your policy limits by contacting your insurance provider and discussing your options.