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

Coverage for shippers of certain radioactive materials, such as medical or commercial isotopes, for direct loss or damage by radioactive contamination; does not cover transport of ...

Coverage for a practicing physician, surgeon, or dentist, when bodily injury, personal injury, and/or property damage is incurred by a patient and the patient sues for injuries and/or ...

Part of the Balanced Budget Act of 1997 that permits medicare recipients to select coverage among various private health care plans to include HMOS, PPOS, POINT-of-SERVICE (POS), MEDICAL ...

Insured sum paid regularly to a married partner (usually a wife but sometimes a husband) of a retired worker. There are several forms: The Federal Retirement Equity Act mandates a spouse's ...

Type of excess of loss reinsurance in which the insurance company (cedent) cedes its known loss revenues to its reinsurer. ...

Coverage for liability exposure resulting from the activities of a business; includes: direct liability acts of the business resulting in damage or destruction of another party's property ...

Same as term Common Disaster Clause: wording in life insurance policies to determine the order of deaths whenthe insured and the beneficiary die in the same accident. For example, if the ...

Supplemental coverage written into or endorsed onto many business and personal liability policies. Covers medical costs and loss of income of persons injured on an insured's property, ...

Employee benefit insurance plan whose objective is to provide the retired employee with life insurance. This group life insurance product is composed of two basic parts: annually renewable ...

Popular Insurance Questions