Blanket Life Insurance Law and Legal Definition

Blanket life insurance refers to an insurance policy that covers the following :

1.more than one type of property at the same location ;

2.similar property at more than one location;

3.two or more kinds or property at two or more locations.

Blanket insurance covers personal possessions and property of a single owner. Blanket insurance is insured on properties such as chain stores. This insurance is insured against all risks such as nuclear disaster, and wear and tear.

The following is an example of the state statute (California) stating the conditions applicable to form a blanket life insurance :

Cal Ins Code § 10222 states that life insurance conforming to all the following conditions is one form of blanket life insurance:

1. Written under a policy issued to a newspaper, farm paper, magazine, or other periodical publication;

2. Insuring independent contractors, such as news paper boys, dealers, distributors, wholesalers, or other personnel, engaged in the sale, distribution, collecting for, or other activities pertaining to the marketing and delivery of publications;