Single limit auto insurance coverage allows you one single amount of coverage that can be used as needed, for either bodily injury or property damage. This one single amount is the most the insurance company will be obligated to pay for damages resulting from one single accident. It can also be termed combined single limit (CSL).
For example, if the limit for the CSL is $200,000 per accident, that is the total that the insurance provider will pay for all bodily injuries and property damage caused in one accident, no matter the number of people injured or what the portion of bodily injury or property damage is.
Split limit coverage splits the coverage amount into 3 limits, such as 25/50/10. Under the split limit coverage these numbers would mean that you have $25,000 of bodily injury coverage per person per accident, $50,000 total for all injuries per accident and a $10,000 limit for property damage done in one accident.
The difference between a combined single limit policy and a split limit policy is that the split limit requires multiple limitations to the policy while single limit coverage gives you one amount of coverage to use as needed for the expenses resulting from an auto accident.
The split limit has the portions of payment limits already designated while the combined single limit policy can give a policyholder flexibility to use the entire coverage for bodily injury and property damage as it is needed to be allocated between the different expenses.
The availability of these different forms of coverage varies from insurance company to insurance company and may also depend upon state insurance laws. If you need an auto insurance quote, start here with us.