WTF is an Aggregate?
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.