What type of liability coverage limits are presented as a total for multiple coverages?

Aggregate limits represent a total available coverage for multiple incidents or losses within a specific policy period. These limits cover all claims combined under one sum, providing a cap on the insurer's total liability. For instance, if a policy has an aggregate limit of $1 million, it means that the insured can have multiple claims in that period, but the total payouts by the insurer cannot exceed $1 million.

This differs from other types of limits: split limits define separate maximum amounts for bodily injury and property damage; combined single limits provide a single total limit that applies to both bodily injury and property damage, allowing for flexibility in claims; and per occurrence limits apply a cap on the amount that can be claimed for any single incident. Understanding aggregate limits is crucial for policyholders to gauge their overall coverage and potential liability exposure over time.