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
Individual in charge of an insurance company agency. The manager is an employee of the company and is usually compensated on a salary-and-bonus basis, the latter relating to premium volume ...
Coverage for robbery of the payroll of a business. Coverage applies to money and checks from the time the payroll is withdrawn from the bank until it is distributed to the employees, ...
Coinsurance requirement such that if a loss is less than $10,000 and also less than 5% of the total of insurance to cover a loss, then the insurance company will not require that the ...
Coverage provided for individuals or businesses for loss due to forgery or alteration of such financial instruments as notes, checks, drafts, and promissory notes. ...
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Association comprised of 59 state and territorial emergency management directors having as its purpose the reduction of losses from natural disasters. The respective directors work directly ...
Buildup of policy cash value, as distinguished from the death benefit. A policyholder has a choice between surrendering the policy for its cash surrender value or keeping it in force for ...
Insurance company that employs or contracts with an insurance agent to represent it. ...
Attachment to a property insurance policy that automatically adjusts its coverage according to the construction cost index in a community. This endorsement is necessary in a property ...
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