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Aggregate: Big Word, Little Insurance

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WTF is an Aggregate?

Aggregate Limit - Usually refers to liability insurance and indicates the amount of coverage that the insured has under the contract for a specific period of time, usually the contract period, no matter how many separate accidents might occur.

So, if you have a $2M Aggregate, the MOST the company will pay is $2M for the policy period, typically one year.

Let’s say your a contractor with multiple jobs.  With each new job, you are lowering the potential coverage for each job.  10 jobs?  $200,000 per… in this extreme example.

Here’s TWO things to ask for on your General Liability:

1.  Blanket Per Location Aggregate

2   Blanket Per Project Aggregate

That $2M Agg, with 10 locations/projects, just became $20M.

Aggregate:  Big Word, but without other words, little insurance.


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