What type of coverage provides a single limit for all property in a specific class?

Blanket coverage is a policy type that provides a single limit for coverage across all property within a specified class or category, rather than assigning individual limits to each item. This means that it offers flexibility and ease of management for the insured, who doesn’t have to keep track of separate limits for different pieces of property.

In practical terms, blanket coverage is particularly beneficial for businesses or individuals who own multiple items of similar categories, such as inventory, equipment, or residential structures. It allows for an aggregate limit that can cover any of the properties listed under that classification, simplifying the claims process and ensuring that the insured is adequately protected without the need for detailed record-keeping for each item.

This is distinct from specific limits, which allocate a set amount of coverage to each individual item, requiring careful management of multiple coverage amounts. Comprehensive coverage typically refers to a type of insurance that provides extensive protection, often against a wide range of risks rather than focusing on a single limit for a specific class of property. General liability coverage addresses claims involving injury or property damage caused by the insured, which does not pertain to the coverage of property classifications specifically.