What remains of BB Mart's general aggregate limit after the damages are paid to Andrea?

To determine what remains of BB Mart's general aggregate limit after damages are paid to Andrea, it is essential to understand the concept of general aggregate limits in liability insurance policies. The general aggregate limit represents the maximum amount that an insurance policy will pay for all covered claims during a specific policy period, typically set at $1,000,000.

If BB Mart has a general aggregate limit of $1,000,000 and has already incurred damages amounting to $300,000 in a claim (based on the chosen answer indicating that $700,000 remains), the calculation involves subtracting the paid claims from the total aggregate limit:

$1,000,000 (total limit) - $300,000 (amount paid) = $700,000 (remaining limit).

This means that after paying Andrea’s claims, the remaining general aggregate limit for BB Mart would indeed be $700,000. This amount can still be utilized for any other claims that may arise during the same policy period.

Understanding how general aggregate limits work is crucial for grasping how much coverage remains after a claim has been settled, which is pivotal for insured individuals or businesses assessing their risk exposure and financial planning. Therefore, the conclusion that $700,000 remains aligns accurately with these