A form of property insurance that covers, in a single contact, either multiple types of property at a single location or one or more types of property at multiple locations.
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Insurance coverage that covers multiple items of property as a group. Covered property may be at one location or several.
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MEDICAL,USA,REFERENCE: See: group health plan .
Insurance Encyclopedia
Blanket insurance (Health Insurance/Property Insurance)
A health insurance contract that covers an entire group of people without identifying each individually. In property insurance, a contract that covers either multiple types of property at one location or several types of property at multiple locations.
Blanket limit
A single limit of insurance that applies over more than one location or more than one category of property coverage, or both. This is in contrast to specific or scheduled limits of insurance, which are separate limits that apply to each type of property at each location.
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In property Insurance, maximum amount which the Insurer will pay for any one loss to all items of property covered by, or ‘blanketed under’, a particular insuring agreement.
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Maximum amount of coverage that a company will write in a particular area.
Blanket medical expense
A policy provision for the payment of hospital and medical expenses up to a maximum amount.
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HEALTH,US: A provision which entitles the insured person to collect up to a maximum established in the policy for all hospital and medical expenses incurred, without any limitations on individual types of medical expenses.
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MEDICAL,USA: Insurance provision that gives the insured a stated maximum in the policy for hospital and medical expenses without limits on individual types of medical expenses.
Blanket medical expense insurance (Health Insurance)
Policy that covers medical costs, except for certain specific exclusions.
Blanket Mortgage
A single mortgage which covers more than one price of real estate.
Blanket motor insurance certificate
A certificate that sets out a general description of vehicles rather than identifying the vehicles covered by their registration numbers. Particularly useful for fleet insurances, it obviates the need for fresh certificates when a fleet owner buys or sells vehicles.
Blanket motor insurance policy
A motor policy describing the vehicles in general terms rather than specifying them individually. The policy usually refers to any motor vehicle, details of which have been notified to the insurer. When a change of vehicles takes place the substitution does not have to be endorsed on the policy. The Motor Insurance Database does not preclude blanket policies or certificates, but for tracing purposes, under the European Directive, the policyholder must maintain a record of vehicles.
Blanket policy
A health insurance contract which protects all members of a certain group against a specific hazard. In property and casualty insurance, a policy that covers a number of similar items under one endorsement. A collection of stamps or less expensive jewelry items, for example.
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UK: A policy with a single sum insured covering a number of separate items of property without sub-division of the amount. The approach is used in fire insurance for large risks and in fidelity guarantee insurance for unnamed employees.
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US: A single insurance policy that covers several different properties, shipments, or locations.
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Insurance with broad coverage frequently used in burglary and Fire Insurance. A Policy used to cover a number of individuals such as an athletic team, passengers in a certain aero plane etc. An Insurance Policy which covers several different properties or exposures under one form, instead of under separate items.
Blanket position bond
Insurance that provides coverage for all employees regardless of job title, in the event of a financial loss to the employer by the act of an employee.
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This bond covers each listed position with the same amount of coverage for each position. For example, if there are five cashiers listed and a limit of $50,000 per cashier, the bond will pay up to $250,000 (each position times the coverage limit).