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

Type of flexible spending account. ...

Means of projecting the costs of pension plans on a level basis over a specified future period of time. The actuarial value of each employee's future benefits to be paid at retirement is ...

Early life insurance that provided benefits only to survivors who lived to the end of a certain period of time. In the mid-17th century, Lorenzo Tonti, an Italian, devised a scheme to raise ...

Oral or written statement that results in injuring the good name or reputation of another, causing that individual to be held in disrepute. ...

Specific values of securities computed annually by the national association of insurance commissioners (NAIC) as guidelines and procedures for insurance companies in listing of their ...

Physical handing of an insurance policy to the insured. Sales training emphasizes the importance of delivery of a policy by the agent. This develops a caring attitude on the part of the ...

Department of Defense triple option managed health care program consisting of three options: Tricare Prime (health maintenance organization), Tricare Extra (preferred provider ...

Method of integrating an employee's Social Security or other retirement benefits with a qualified retirement plan. Some employers offset (reduce) retirement or disability income benefits ...

Protection against natural disasters that may strike crops. Coverage on all risks basis began in 1948 under the auspices of the U.S. Department of Agriculture. Premiums reflect actual ...

Popular Insurance Questions