In plain English
This sets a separate payment cap for each individual claim. Once a claim reaches that cap, the insurer will not pay more for that claim under the policy.
In context
Here, "per claim limit" labels the maximum amount the insurer will pay for each individual claim under the policy.
- Situation
- Reading premium, deductible, excess, copay, limit, and out-of-pocket fields
- What it communicates
- labels a claim-by-claim limit entry in the policy schedule
Meaning limits
By itself, this term does not say anything about the total amount payable across all claims under the policy.
Examples
“The burst-pipe claim reached the per claim limit, but the later kitchen-fire claim was assessed against its own cap.”
“Before approving payment, compare the repair estimate with the per claim limit for that policy.”