Insurance term
Sublimit
A sublimit is a smaller limit within a larger insurance policy limit that applies to a specific type of loss, coverage, or item. If a sublimit applies, the insurer will pay only up to that lower amount for that part of the claim, even if the overall policy limit is higher.
Example
A homeowners policy may have a $300,000 overall limit but only a $1,500 sublimit for theft of jewelry, so a stolen ring is covered only up to that amount.
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