What type of insurance policy has a general aggregate limit of $1,000,000?

The correct answer is the Commercial General Liability policy. This type of insurance policy is designed to provide coverage for a variety of risks that businesses might face, particularly regarding liability for bodily injury, property damage, and personal injury. The general aggregate limit, which in this case is $1,000,000, refers to the maximum amount that an insurer will pay for all covered losses over a policy period.

A Commercial General Liability policy often includes both an occurrence limit and a general aggregate limit, with the general aggregate limit providing essential protection that caps the total payout for covered claims during the policy term. This feature is crucial for businesses, as it helps manage risks associated with operations, products, services, and completed operations.

In contrast, the other types of policies mentioned typically do not include a general aggregate limit of this nature. A DP-2 policy is primarily for rental properties and does not offer the same coverage breadth as a Commercial General Liability policy. Homeowners policies and Personal Auto policies are designed for individual consumers, focusing on personal property and residential liability rather than the broad liabilities that businesses encounter. Understanding these distinctions helps clarify why the Commercial General Liability policy is the correct choice in this context.