A Commercial General Liability limit that applies to all damages paid for bodily injury, property damage, personal injury, advertising injury, and medical expenses, except damages included in the products-completed operations hazard.
In a General Liability Insurance policy, the maximum amount the company will pay regardless of the number of different kinds of coverage provided by the policy or the number of claimants in one incident. Examples: a general liability policy may provide a $500, 000 limit for any one incident causing injury on the insured's premises, and a separate $500, 000 limit for any one incident of injury caused by the insured's product: but the policy may also limit the total it will pay for all such claims to $1,000,000 in any one policy year. In an Automobile Liability Insurance policy, with a $500,000 aggregate limit, if two injured people each were awarded $300,000, $100,000 would not be covered. See also Product Liability Insurance.
The sum or total amount that will be paid in any one policy period, regardless of how many claims, losses, suits, or insureds may be involved. Some policies allow the aggregate limit to be reinstated after it has been exhausted, by endorsement and for additional premium.