Blanket Coverage
A type of insurance policy that covers multiple locations, types of property, or individuals under a single limit of liability
Detailed Explanation
This can provide more flexibility in coverage, especially when losses occur at one location but exceed the specific limit for that location.
Practical Example
A retail chain with three store locations has blanket property coverage with a total limit of $5,000,000. If one store suffers a significant fire loss of $4,000,000, the remaining $1,000,000 in the blanket limit is still available for potential losses at the other locations.
Frequently Asked Questions
Related Terms
Need Insurance Coverage?
Request quotes from top insurance providers and find the best coverage for your needs.
Get Free Quotes