Blanket Insurance
What Does Blanket Insurance Mean?
Blanket insurance is a type of policy that covers multiple items up to a specified limit. It serves as an alternative to purchasing individual policies for each item. Typically used for property insurance, blanket insurance is ideal for situations where an owner with multiple properties seeks coverage for all of them under a single policy.
Insuranceopedia Explains Blanket Insurance
In certain situations, it makes more sense for policyholders to opt for blanket insurance rather than purchasing multiple individual policies. For instance, an owner of five restaurant franchise locations within the same city would likely benefit from blanket insurance instead of having to buy a separate policy for each location. Blanket insurance offers similar coverage but typically requires less time and effort to purchase and manage compared to individual policies.
