Blanket vs Scheduled Limits

We come across many property owners with portfolios containing multiple properties spread across multiple locations and when it comes to property insurance a key component is how the limits will apply.

By combining the limits of various scheduled property into one large limit, blanket limits offer a reassuring allowance for error. Some carriers "blanket" buildings, contents and business income separately; others blanket all property limits together. Some will provide an "occurrence" limit that could be less than the total values combined, but would cover the maximum probable loss at any one location. The occurrence limit is usually a form of blanket coverage. Loss limits, however, rarely have any blanket component. A loss limit is the most the policy will pay in the event of a loss. Recovery is limited to the amount shown for the property item on the statement or schedule of values on file with the insurance carrier.

For an evaluation of your current programs limits or if we can be a resource for any insurance needs, please do not hesitate to reach out.