Blanket Insurance Policy
Blanket insurance provides more than one type of coverage using a single policy with a single limit. It can provide multiple types of coverage on one property, or group several properties together under one blanket policy. For example, Your home insurance is a type of blanket insurance, as it covers both your home’s structure and your personal property against loss.
Blanket insurance typically provides a wider range of protection than your individual policy. Blanket coverage can apply to several forms of insurance and it can be a challenge to determine which method is more cost effective. Blanket insurance isn’t meant for everyone, so it’s helpful to have a guide at your side. Although it costs more, the additionally covered perils may be worth the investment. Examine the policy in detail to see just how much more is covered to decide if this type of policy is right for you. It covers personal possessions as well as the actual dwelling, “blanketing” all the homeowners’ possessions.
Benefits of Blanket Insurance:
- It can provide comprehensive coverage a single policy cannot.
- You don’t have to purchase multiple individual policies to get the coverage you need.
- One policy is easier to understand, and it provides More options, Time savings, and Peace of mind.