What is a double aggregate? Triple aggregate?
The double aggregate doubles the amount of coverage that is available during the policy period but does not increase the occurrence limit. Triple aggregate triples the amount of coverage that is available during the policy period but does not increase the occurrence limit. For example, if you have a $1 million per occurrence limit and select the double aggregate, the policy will pay a maximum of $1 million per any one occurrence, and a maximum of $2 million in the year. So you could have two, separate $1 million claims paid in the same year, or four separate $500,000 claims. But if you had a single, $2 million claim, only $1 million would be paid by the policy for that occurrence. This is why you should consider excess coverage. Triple aggregate triples the amount of coverage that is available during the policy period but does not increase the occurrence limit.
