Blanket Insurance

What Does Blanket Insurance Mean?

Blanket insurance is one insurance policy that covers multiple items up to a certain limit. Blanket insurance is an alternative to buying multiple policies for the individual items. Blanket insurance is typically used for property insurance. It is used in situations where the owner of multiple properties wants to get coverage for multiple properties under one policy.

Insuranceopedia Explains Blanket Insurance

There are some situations where it makes more sense for policyholders to purchase blanket insurance as opposed to buying a number of individual policies. For example, an owner of five restaurant franchise locations in the same city would likely benefit from buying blanket insurance instead of having to purchase an individual policy for each location. Blanket insurance can provide similar coverage, but generally takes less time and effort to purchase and manage than individual policies do