Secret Savings Hidden in General Liability Limits 1 2 2

The Importance of Liability Limits

Liability limits refer to the maximum amount an insurance company will pay out for a covered claim. These limits are typically expressed in two numbers, such as "1 2 2," which might represent $1 million per occurrence, $2 million aggregate, and $2 million for products and completed operations. Adjusting these limits can significantly impact your premium costs. For example, increasing your per-occurrence limit might slightly raise your premium, but it could save you substantial amounts in the event of a large claim.