Question

When the limit of the policy can be applied to either bodily injury or property damage, wherever needed, or in any combination, this is a ________ ______ limit.

Answer 1

A split limit is a type of insurance policy limit that divides the coverage between two or more distinct categories, such as bodily injury and property damage.

Step-by-step explanation:

When the limit of the policy can be applied to either bodily injury or property damage, wherever needed, or in any combination, this is a split limit limit. A split limit is a type of insurance policy limit that divides the coverage between two or more distinct categories, such as bodily injury and property damage. For example, a split limit policy may have a limit of $100,000 per person for bodily injury and $300,000 per accident for property damage.