Definition of "Variable limit"

Jon Bothers real estate agent
Jon Bothers, Real Estate Agent Atlanta Communities - West Cobb

In property insurance coverages, provision whereby the limit of the policy automatically increases at each policy anniversary date, subject to the insured's rejection of such an increase. The objective of the variable limit is to increase the amount of coverage in tandem with the annual increase in the inflation rate so as to prevent less than adequate coverage in the event of a loss.

 

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