Coverage Types
Blanket Coverage
Definition
A single insurance policy that covers multiple properties, locations, or categories of property under one combined limit, rather than assigning separate specific limits to each. The full policy limit can be applied to any single loss at any covered location, providing greater flexibility and often eliminating coinsurance penalties.
In Zach’s Words
“Instead of insuring each of your properties or assets with its own individual limit, blanket coverage puts them all under one big limit. Why does this matter? Say you own three buildings worth $1M, $2M, and $3M. With individual limits, the most you can collect on the $1M building is $1M. With a $6M blanket, the full $6M can apply to whichever property has the loss. It gives you more flexibility and often eliminates coinsurance penalties. Real estate investors with multiple properties love this.”
— Zach Nadler, CIO