Florida Insurance Licensing Practice Exam 2025 - Free Insurance Licensing Practice Questions and Study Guide

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All of the following are ways that liability limits can be expressed except?

PIP Limit

Liability limits can be expressed in a variety of ways to indicate the maximum coverage a policy has for a specific liability. PIP (Personal Injury Protection) limit is not considered a way to express liability limits, as it refers specifically to coverage for medical expenses of the insured and their passengers. Aggregate limit refers to the maximum amount an insurer will pay for all claims within a specific time period. Split limit refers to dividing coverage between bodily injury and property damage, and single limit refers to a total maximum amount of coverage for all types of liabilities.

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Aggregate Limit

Split Limit

Single Limit

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