What type of policy would cover a variety of risks under a single amount for total property coverage?

A blanket policy is designed to cover multiple types of property or various locations under a single limit of insurance. This means that instead of having separate coverage limits for different items or properties, all covered properties can be included under one overall limit. This type of policy provides flexibility and simplifies coverage management, especially for businesses or individuals with diverse property holdings.

For example, a business that owns several buildings, equipment, and inventory can use a blanket policy to ensure that all of these assets are covered without having to specify separate amounts for each asset. This can be particularly beneficial in scenarios where property values fluctuate, as the total coverage amount can be applied to the various properties as needed.

In contrast, a broad form policy typically provides coverage for specific perils but may not encompass as wide a range of risks as a blanket policy would. A comprehensive policy generally refers to an all-risk approach for certain types of insurance, primarily within auto or similar contexts, and may not adequately cover multiple property types under a single limit. A scheduled policy involves listing individual items with specified coverage limits for each, lacking the flexibility of a blanket approach.