Gilders usually select general liability limits at $1 million/$2 million. This means the insurance provider will pay up to $1 million per claim. BUT, the most it will pay on all claims is $2 million in one year.
FAQ_category: General Liability
An aggregate claim limit states how much an insurance provider will spend on your claims per year.
A per claim limit states how much an insurance provider will spend per claim.
A limit tells you how much an insurance provider will pay for a claim. Limits can be per claim or in aggregate.
General liability typically costs between $250 – $500 annually. These prices vary due to business type and can reach up to $1,000 a year for riskier endeavors, such as working in construction.