Blanket Insurance
Definition
- An insurance policy that provides coverage for different classes of property.
- A policy that covers common areas of a co-op, condominium or a neighbourhood governed by a homeowners association. Such a policy doesn't cover dwellings or contents of dwellings, but areas owned in common. Also known as a "blanket policy," "umbrella policy," or "umbrella insurance."
Synonyms
wide coverage, full insurance, multiple items
Related Terms and Acronyms
- Blanket Mortgage — Definition,
- A mortgage that covers more than one property owned by the same buyer.
- Broad Form Insurance — Definition,
- Insurance that covers rare events not normally covered in an existing insurance policy.
- Comprehensive Insurance — Definition,
- Auto insurance that covers damages not resulting from a collision, and for vehicle theft.
- Floater Insurance — Definition,
- Insurance that covers assets not commonly covered by an existing policy such as electronics or jewelry.
- High Risk Auto Insurance — Definition,
- Auto insurance for drivers with an increased risk of collisions.
- Multiline Insurance Policy — Definition,
- A combination of different insurance policies that are rolled into a single insurance policy.
- Personal Property (PP) — Acronym,
- Property that is movable and not permanently attached to a dwelling or structure.
- Property Insurance — Definition,
- Insurance that provides coverage for damages to property from a number of perils.
- Umbrella Insurance — Definition,
- Insurance used to cover different types of property in a single policy.
