One commercial property limit that applies across multiple locations or categories.
Blanket insurance is property coverage that applies one combined limit across multiple insured locations, items, or property categories instead of assigning a separate specific limit to each one.
Businesses rarely keep property values fixed in one place. Inventory shifts, tools move, and equipment concentrations change. Blanket coverage matters because it can make the policy more flexible when the loss does not happen exactly where the business expected.
In Canadian commercial property insurance, blanket wording often appears when the insurer is comfortable covering a portfolio of property under a shared limit. It may apply across:
This does not mean the coverage is unlimited. The blanket limit still has to be large enough for the actual concentration of value, and the wording may still contain sublimits, reporting conditions, or coinsurance requirements.
A retailer operates three small stores and keeps seasonal inventory moving between them. Instead of relying only on rigid location-by-location property limits, the policy uses a blanket limit so a serious fire at one store can draw on the combined property limit if the wording allows.
Blanket insurance is not the same as unlimited insurance. The business can still be underinsured if the blanket limit is too low for the actual total exposure.
It is also different from scheduled property. Scheduling usually isolates a specific item or stated value. Blanket insurance spreads one limit across a broader insured group.
Blanket wording can interact with coinsurance, statement-of-values reporting, margin clauses, and location schedules in ways that readers do not expect. The flexibility of the concept should not be mistaken for a guarantee that every concentration problem disappears.