A blanket insurance policy may be exactly what you need if you’re looking for broad coverage not found in individual policies. 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.
An independent agent in the Trusted Choice® network can help you understand the pros and cons of blanket insurance and find the exact amount and type of coverage you need. For assistance comparing insurance companies and blanket insurance quotes, contact an independent agent right in your area.
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.
Blanket insurance typically provides a wider range of protection than your individual policy. Although it costs more, the additional 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.
There are several different blanket insurance applications in several different areas of insurance, including the following.
If you’re an individual who doesn’t own multiple properties and you don't have complicated health insurance needs, you probably don’t need a blanket insurance policy. It will most likely be more cost effective to pursue individual policies and add riders if necessary.
On the other hand, if you have multiple properties that need to be insured, whether they are residential, rental or commercial properties, a blanket property insurance policy may be ideal.
Any type of blanket policy, such as blanket medical insurance, needs to be evaluated on a case-by-case basis. So it is important to work with a knowledgeable agent who can customize coverage to your needs. An independent agent can help you compare individual policies with blanket coverage before choosing the option that makes the most sense for you.
Blanket insurance is undoubtedly more expensive than an individual insurance policy. But you must consider the advantage of extended coverage and just how much that is worth to you.
Blanket insurance coverage will typically run about 10 percent more than your average policy, but to get the same amount of coverage, you’d need to purchase at least two separate policies. As you may know, bundling insurance can often save you money. Blanket insurance takes care of the bundling for you.
If you’re interested in learning more about how blanket insurance coverage can reduce your personal insurance costs, or the costs of your business insurance costs as a business owner, an independent agent in the Trusted Choice network can help.
Independent agents have access to competitive rates from multiple insurance companies and will compare several policies to find the one that will work best for you. Contact an independent agent today to learn whether blanket insurance is right for you.