DEFINITION of 'Blanket Insurance'

A single policy on an insured property that covers more than one type of property at the same location, the same kind of property at more than one location, or two or more kinds or property at two or more locations. Homeowner's insurance that covers personal possessions as well as the actual dwelling "blankets" all the homeowners' goods.

BREAKING DOWN 'Blanket Insurance'

Borrowers are required by lenders to have and maintain homeowner's insurance in order to protect the lender from destruction of or damage to the home. The benders demand this because they want the home protected as it is the collateral backing for the mortgage.

RELATED TERMS
  1. Homeowners Insurance

    A form of property insurance designed to protect an individual's ...
  2. Personal Property

    A type of property which, in its most general definition, can ...
  3. Property Insurance

    A policy that provides financial reimbursement to the owner or ...
  4. Betterment Insurance

    Betterment insurance refers to insurance coverage that a tenant ...
  5. Commercial Property Insurance

    Insurance that is used to cover any type of commercial property. ...
  6. Total Insurable Value

    Total insurable value is the value of property, inventory, equipment, ...
Related Articles
  1. Insurance

    Does Your Homeowner’s Insurance Cover Airbnb?

    Renting out a room on Airbnb can be a good way to generate income, but you need to understand what is and isn’t covered by your homeowner’s insurance first.
  2. Investing

    Will You Break Even On Your Home?

    Calculate how much your property will need to appreciate to cover the costs of owning it.
  3. Insurance

    6 Types Of Insurance Coverage You Didn't Think You Needed

    These different types of insurance coverage can be beneficial, but they're often overlooked and misunderstood.
  4. Investing

    4 Overlooked Homeownership Costs

    Mortgage payments aren't the only expense. Find what else you'll be on the hook for.
  5. Insurance

    Do You Need Casualty Insurance?

    Find out how different types of coverages can protect you and which policy is right for you.
  6. Insurance

    A Quick Guide To Landlord Insurance

    ...And why landlords need it, even if they also have homeowners insurance.
  7. Insurance

    The Beginner's Guide To Homeowners' Insurance

    Discover everything new homeowners need to know before they sign on the dotted line.
  8. Investing

    Your Property Tax Assessment: What Does It Mean?

    The amount of a property tax bill is based on the property’s value, the exemptions it qualifies for, its use and the local property tax rate.
  9. Investing

    Use Real Estate To Put Off Tax Bills

    Find out how you can build wealth and reduce your taxes.
RELATED FAQS
  1. What is the average return on total revenue for the insurance sector?

    Learn about the three main segments of the insurance industry, and find out what the average return on revenues is for the ... Read Answer >>
  2. What are some examples of industries that practice price discrimination?

    Understand the various types of insurance coverage offered in the insurance marketplace, and learn why each policy should ... Read Answer >>
Hot Definitions
  1. Operating Ratio

    A ratio that shows the efficiency of a company's management by comparing operating expense to net sales. Calculated as:
  2. Expense Ratio

    A measure of what it costs an investment company to operate a mutual fund. An expense ratio is determined through an annual ...
  3. Pro Forma

    A Latin term meaning "for the sake of form". In the investing world, it describes a method of calculating financial results ...
  4. Trumpcare

    The American Health Care Act, also known as Trumpcare and Ryancare, is the Republican proposal to replace Obamacare.
  5. Free Carrier - FCA

    A trade term requiring the seller to deliver goods to a named airport, terminal, or other place where the carrier operates. ...
  6. Portable Alpha

    A strategy in which portfolio managers separate alpha from beta by investing in securities that differ from the market index ...
Trading Center