What insurance concept allows for insuring multiple properties under one contract?

The concept of blanket coverage is designed specifically to insure multiple properties under a single insurance policy. This approach simplifies the insurance process, allowing for easier management of multiple properties, as they are covered under one contract rather than requiring individual policies for each property.

Blanket coverage typically provides a sum insured that can be applied to any of the covered properties, which is both convenient and can result in cost savings for the policyholder. It allows for flexibility in property valuations; if one property suffers significant loss, the coverage can be adjusted based on the condition of the remaining properties. This type of coverage is particularly beneficial for businesses or individuals who manage multiple assets in various locations.

While single property policies only cover one specific property, pooled coverage typically refers to risk management strategies in a broader sense, and combined insurance generally pertains to policies that offer a combination of different types of coverage. Therefore, blanket coverage accurately reflects the concept in question, allowing for the insurance of multiple properties under one unified policy.