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Split Limit Auto Insurance

Split limit auto insurance is named so because the amount that the insurance company will pay out in a single incident is split between bodily injury and property damage. The policy will pay a certain amount for each individual who was injured in an accident up to a defined amount and a certain amount for property damage in an accident. If the amount of damage done to property exceeds the amount of coverage, the bodily injury portion of the insurance plan cannot be tapped into to pay the difference. Likewise, the property damage portion cannot be tapped into to pay for bodily injury claims. For example, if an auto insurance policy has a split limit of 100/400/50 it can be read like this: The insurance company will pay up to $100,000 per person for bodily injury and will not exceed that payment. It will also pay bodily injury payments up to $400,000. Once that $400,000 is reached, there will be no more bodily injury compensation. The company will also payout $50,000 for property damage in total.Another type of auto insurance, combined single limit (CSL), has one set limit for all claims. So the $450,000 in the above example in a combined single limit policy could be divided any way necessary to satisfy claims from a single accident.While combined single limit insurance offers more flexibility, split limit auto insurance is usually a more affordable choice. Most auto insurance companies offer split limit coverage. Coverage from state to state will vary based on the individual state’s insurance laws.Get multiple free quotes on split limit coverage here AutoCarInsurance.org.