Blanket insurance includes several types of coverage on a single policy. This policy can be expanded to provide coverage for several properties. The concept can be applied to several types of insurance, including homeowner's insurance, business insurance, and health insurance. The use of blanket insurance simplifies the risk management task of an individual or business, which might otherwise have to secure a number of different policies in order to obtain the same coverage.
Blanket insurance is especially useful for a business with multiple locations, since assets will still be covered, even if they are moved to a different location.