6.18 Mandatory Policy Limits

• Jurisdiction: Arizona

Arizona's Safety Responsibility Act requires insurance companies to issue insurance policies with minimum limits of $15,000 because of bodily injury to or death of any person in any one accident;^[242] $30,000 because of bodily injury to or death of two or more persons in any one accident;^[243] and $10,000 because of because of injury to or destruction of property of others in any one accident.^[244] Typically, insurance companies will issue what is commonly called a split limit policy, which complies with the statutory coverage limits set forth in Arizona's Safety Responsibility Act. In any single accident, the insurance company will pay no more than the per person limit to any one claimant who is injured. This sets a subcap on the overall coverage limit availability. Thus, in situations where minimum limits are available through the insurance company, the most the insurance company will pay to any one injured claimant is $15,000 notwithstanding the fact that an individual claimant's injuries may be catastrophic...