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What is Blanket Insurance? Blanket insurance is a single property insurance policy that covers more than one type of property at the same location, the same kind of property at multiple locations, or multiple kinds or property at two or more locations.

In an insurance policy, an additional insured refers to anyone other than the policyholder who is covered by an insurance policy. Coverage might be limited to a single event or it could last for the policy's lifetime.

A person or entity that's listed as additional insured also receives coverage under the policy and has the ability to make claims. If you have a mortgage, your lender could be an additional insured. However, in most cases, an additional insured is someone who lives in the home.

A blanket additional insured endorsement enables a policyholder to extend coverage to multiple third parties without having to specifically name or request such a status for each.

To be included as an additional insured under a liability policy, a person or entity must have a business relationship with the policyholder (named insured). Here are some common business relationships that create a need for additional insured coverage: Landlord and tenant. General contractorand subcontractor.

As an additional insured, the lender is entitled to the benefits of the policy but is not charged with obligations of the named insured (such as payment of premiums). The lender should require the insurer to waive all rights of subrogation against the mortgage lender.

A blanket additional insured endorsement is the process of providing insurance coverage to those parties that the named insured must provide coverage. The additional insured status essentially provides coverage to other groups or individuals that were not initially named in the policy.