In a liability policy where the limit applies to both bodily injury and property damage from one accident, what type of limit does the insured have?

In a liability policy where the limit applies to both bodily injury and property damage from one accident, the insured has a combined single limit. This type of limit indicates that there is a single dollar amount available to cover all claims related to an incident, regardless of whether those claims are for bodily injury or property damage.

The benefit of a combined single limit is that it provides flexibility in how the policy can be used to cover claims. For example, if a single accident results in a high level of property damage, the entire limit can be allocated to that property damage without needing to separate out the bodily injury aspect. This is particularly useful in situations where the total costs from an incident might exceed what a split limit would cover for either bodily injury or property damage alone.

Other options like per occurrence and aggregate limits have different implications. A per occurrence limit specifies a maximum for each individual incident but typically would have separate limits for bodily injury and property damage. An aggregate limit applies to the total of all claims over a policy period, also commonly distinguishing between types of coverage. Sub-limited refers to a lower limit set within the broader insurance policy for specific types of coverage or claims and does not apply in this context.

Therefore, the combined single limit is the most appropriate