Policy Structure
Aggregate Deductible
A single deductible amount that applies to all claims during a policy period, rather than a separate deductible for each individual claim. Once the insured has paid the aggregate deductible amount across all claims, the carrier covers subsequent claims without additional deductible payments. Aggregate deductibles are less common in legal malpractice than per-claim deductibles but may be available as a cost-saving option for firms with predictable, low-severity claim patterns.
Related terms
DeductibleThe amount the insured must pay toward a covered claim before the insurance policy begins to pay. In...Aggregate LimitThe maximum total amount an insurance policy will pay for all covered claims during a single policy ...Per-Claim LimitThe maximum amount an insurance policy will pay for any single claim, including defense costs if the...