depends... but the limits of the policy are established at the beginning. I.e. a million dollar life insurance policy is just that, one million dollars. For other items the policy is based on the value of the item being insured. I.e. for a 25,000$ car, the max value of the policy is 25,000$.

To increase the benefit for these policy ultimately would require an increase in the value pf the policy, however, the cost of the premiums would also go up because they are contingent to the value of the policy.

Subject policies, like injury related polices (soft tissue, accidents), still have a maximum payout clause however, rely heavily of documented proofs (Ie. doctors notes, photos, receipts, "expert" notes, and other data-like items) to establish a "cost" for replacement or of loss.

hopefully this helps,
DailyBMJ

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