Definitions for "Liability Limits"
The limits of protection the insured has in a liability policy.
The maximum amount for which a Liabilty Insurance company provides protection in a parti policy.
The maximum amount your liability policy will pay. Your policy must pay at least $20,000 per person for injuries and deaths, up to $40,000 for all victims of an accident, plus $15,000 for property damage. You can purchase higher liability limits for additional premium.