MN Public Adjuster Practice Questions - Minnesota Public Adjuster Exam

What is a 'sublimit' in an insurance policy?

The minimum amount for a claim A limit within the policy that caps coverage for a specific type of property, peril, or loss at an amount lower than the overall policy limit The deductible amount A limit on the number of claims per year

Correct Answer:

A limit within the policy that caps coverage for a specific type of property, peril, or loss at an amount lower than the overall policy limit

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