Policy Terms

Coverage Limit

Coverage Limit is defined as: The maximum amount an insurance company will pay for a covered loss under your policy.

Coverage limits represent the maximum financial protection your insurance policy provides. Understanding these limits is crucial for ensuring adequate protection.

Related Terms

Replacement Cost

The amount it would cost to replace damaged property with new property of similar kind and quality, without deducting for depreciation.

Dwelling Coverage

Insurance coverage that protects the physical structure of your home, including attached structures.

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