Aggregate Claim Limit definition

Aggregate Claim Limit. The maximum amount We will pay for all claims during the term of this Agreement is $5,000. • If You Meet or Exceed the Aggregate Limit: We will be responsible for informing You, at the time of the claim, if You have reached the Aggregate Claim Limit. In the event You reach the Aggregate Claim Limit and the Covered Product requires additional repairs, We will provide You with information on how get the Covered Product repaired, however, We will not be responsible for any costs related to these repairs. If You make a claim and the cost to repair or replace Your Covered Product will exceed the remaining balance of Your Aggregate Claim Limit, We will complete the final repair or replacement of Your Covered Product, after which this Agreement will terminate. Upon replacement, there is no longer any obligation for the replaced product under this Agreement. SERVICE COSTS, TRIP CHARGES, BREAKDOWN CHARGES, INSPECTION FEES, DIAGNOSTIC FEES OR ESTIMATE CHARGES FOR REPAIRS NOT COVERED UNDER THIS AGREEMENT ARE YOUR RESPONSIBILITY.

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Aggregate Claim Limit. The maximum amount We will pay for all claims made in any twelve (12) month rolling period is $5,000.00. The twelve (12) month rolling period begins on the date of Your first claim. If You reach the $5,000 aggregate claim limit, this Agreement will be cancelled. • If You Meet or Exceed the Aggregate Limit: In the event You reach the aggregate claim limit and the Covered Product requires additional repairs, We may be able to provide You with information on how to get the Covered Product repaired, however, We will not be responsible for any costs related to these repairs. In such an event, Your Agreement will terminate, and no future monthly charges will be due. A covered claim will apply to Your aggregate claim limit for twelve (12) months after the claim is completed, at which point that claim will roll off Your account and that claim, or the associated costs will be added back to Your available aggregate claim limit balance. Upon replacement, there is no longer any obligation for the replaced product under this Agreement. SERVICE COSTS, TRIP CHARGES, BREAKDOWN CHARGES, INSPECTION FEES, DIAGNOSTIC FEES OR ESTIMATE CHARGES FOR REPAIRS NOT COVERED UNDER THIS AGREEMENT ARE YOUR RESPONSIBILITY.

Examples of Aggregate Claim Limit in a sentence

In the event You reach the Aggregate Claim Limit, You are not eligible for any further claims under this Agreement until the end of the 12 month period following Your first claim.
In the event Your Covered Product requires additional repairs, and You have reached the Aggregate Claim Limit, We may be able to provide You with information on how to get the Covered Product repaired, however, We will not be responsible for any costs related to these repairs.
If the aggregate amount of Losses subject to Section 11.1(a) exceeds the Aggregate Claim Threshold, then for each such Loss that is or was subject to Section 11.1(a) and that exceeds the Individual Claim Threshold (including those within the Aggregate Claim Threshold), TACT Indemnified Persons shall be entitled to indemnification by Excalibur in the full amount of such Loss (notwithstanding the Aggregate Claim Threshold), up to the Aggregate Claim Limit.
Your coverage under this Monthly Subscription Term Service Contract will automatically renew on a monthly basis provided that: (i) the payment of the Monthly Subscription Fee is received by Us by the Subscription Fee due date, or within ten (10) calendar days following the Monthly Subscription Fee due date (the “Grace Period”); and (ii) the Aggregate Claim Limit of Liability has not been reached.
If the aggregate amount of Losses subject to Section 11.1(b) exceeds the Aggregate Claim Threshold, then for each such Loss subject to Section 11.1(b) that exceeds the Individual Claim Threshold (including those within the Aggregate Claim Threshold), Seller Indemnified Persons shall be entitled to indemnification by TACT in the full amount of such Loss (notwithstanding the Aggregate Claim Threshold), up to the Aggregate Claim Limit.

More Definitions of Aggregate Claim Limit

Aggregate Claim Limit. The maximum amount We will pay for all claims made in any twelve (12) month rolling period is $5,000.00. The twelve (12) month rolling period begins on the date of Your first claim. • If You Meet or Exceed the Aggregate Limit: In such event, a covered claim will apply to Your aggregate claim limit for twelve (12) months after the claim is completed, at which point that claim will roll off Your account and that claim, or the associated costs will be added back to Your available aggregate claim limit balance. In the event You reach the aggregate claim limit and the Covered Product requires additional repairs, We may be able to provide You with information on how to get the Covered Product repaired, however, We will not be responsible for any costs related to these repairs. SERVICE COSTS, TRIP CHARGES, BREAKDOWN CHARGES, INSPECTION FEES, DIAGNOSTIC FEES OR ESTIMATE CHARGES FOR REPAIRS NOT COVERED UNDER THIS AGREEMENT ARE YOUR RESPONSIBILITY. 4WC-HOME ELECTRONICS_SMART HOME PRODUCTS (02/2024)

Aggregate Claim Limit. Our liability with respect to the total of all benefits paid or payable while this Extended Warranty is in force shall not exceed the lesser of: