Definition of "Blanket insurance"

Ruby Lombardo real estate agent

Written by

Ruby Lombardoelite badge icon

Jack Pedersen Realty

Single policy on the insured's property for:

  1. two or more different kinds of property in the same location;
  2. same kind of property in two or more locations;
  3. two or more different kinds of property in two or more different locations.
Blanket coverage is ideal for such businesses as chain stores, all of whose property is covered with no specific limit on each particular property regardless of its location (thereby enabling the business to shift merchandise from store to store). This insurance can (but need not) be written on an all risks basis subject to exclusions of war, nuclear disaster, and wear and tear.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Insurance Terms

Insurance that follows an insured property. ...

In property insurance, a stipulated agreement between the insurance company and the insured that the amount of insurance coverage under the policy is sufficient to be in compliance with the ...

laws enacted by all of the 50 states whose purpose it is to reduce or eliminate the volunteer's civil liability exposure. An ideal law would exclude the volunteer from civil liability ...

Assets, such as furniture and fixtures, that are not permitted by state law to be included in an insurance company's ANNUAL STATEMENT. ...

Negligent acts and/or omissions by the individual (s) and the organization (s) resulting in damage to the environment. For example, pollution of the environment suits against manufacturers ...

Now-defunct bureau founded by fire insurance underwriters in 1866 to work for fire prevention and loss control. The board helped standardize the fire insurance policy. In the mid-1960s, the ...

Same as term Associate in Automation Management: professional designation earned after the successful completion of three national examinations given by the insurance institute of America ...

Property coverage for a builder of ships until possession passes to the owners. Protects against pre-launch and post-launch perils. Coverage can be purchased on an all risks basis subject ...

Dividend paid in addition to the regular dividend on a participating insurance policy. ...

Popular Insurance Questions