limit of liability

noddyno1

hi my insurance company just told me they have been given there limit of liability does this mean that my claim is being processed and i'm getting paid out thanks for any advice sorry if i sound a bit dim thanks

Catherine12

Limit of liability- is used when for example you break your tv, it costs you £300 new, but it will cost the insurer £200 to replace through suppliers. You have seen a tv for £400 you want- as the insurer can replace the tv for £200 this is all they would pay.
Just an example, as i don't know what the claim is for.

rs65

noddyno1 wrote: »

they have been given there limit of liability

That doesn't mean much on its own. In what context did they say that?