Blanket Form
Definition of "Blanket form"
Same as term Blanket Insurance: 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.
Popular Insurance Terms
Contract first written in 1918 that provided the basis for modern-day property insurance, both personal and commercial. Forms and endorsements must be added to complete the policy and ...
Relationship of the frequency of illness, sickness, and diseases contracted by individual members of a group to the entire group membership over a particular time period. ...
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Coverage usually provided under the commercial general liability insurance (CGL); it can also be purchased separately. ...
Payment of premiums before their due date. In pension plans, premium payments are allocated to the payment of future benefits prior to benefits becoming payable. ...
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Period when the accumulated assets in an annuity are returned to the annuitant. An annuity may be purchased either with a single payment or with many payments over the life of the contract. ...
Same as term Final insurance: premiums paid out of funds borrowed from the cash value of a life insurance policy. ...
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