In the split limit of 15/30/5, what does the 5 refer to?

In a split limit liability insurance policy, the figures represent the maximum amounts the insurance company will pay for different aspects of liability claims resulting from an accident. The "15/30/5" notation breaks down into three specific categories:

• The first number (15) refers to the maximum amount paid for bodily injury for each individual involved in the accident.
• The second number (30) indicates the total maximum payout for all bodily injury claims resulting from the incident, capping the total expenses for multiple individuals.
• The third number (5) specifies the maximum amount covered for property damage caused by the insured vehicle in the accident.

In this case, the "5" refers to property damage coverage, which is the limit that applies to damages inflicted on someone else's property due to the insured's actions while driving. Understanding these limits is crucial for drivers to ensure they have appropriate coverage for potential liabilities.