Broad-Form Policy Law and Legal Definition

A broad-form policy is an insurance policy that offers broad protection by providing coverage for losses resulting from several causes with few limitations. The coverage offered by a broad-form policy is higher than that offered by a basic-form policy, but lesser than open-peril policies. For example, broad-form homeowners insurance provides absolute coverage for the structure of a home, its contents, other structures like garages and sheds, liability losses and medical payments.