What does blanket insurance cover?

Blanket insurance is designed to provide coverage for multiple classes of property, either at one location or across different locations. This type of insurance offers a more flexible approach, allowing policyholders to insure various types of property under a single policy without needing to specify the exact value of each item or class of property.

For example, blanket insurance might cover a combination of equipment, furniture, and inventory within a business’s premises or provide coverage for several properties owned by a business in different geographic areas. By using a blanket policy, the insured can avoid the complexity of managing multiple policies for different types of property or locations and can also benefit from a potentially lower premium compared to individual policies. This overarching coverage is particularly beneficial for businesses and individuals with diverse asset portfolios.