Blanket Insurance Policies in Florida
A blanket policy provides insurance coverage across multiple Florida properties or locations under a single policy with an aggregate limit, simplifying administration for multi-property owners.
Coverage Structure
Unlike individual policies with separate limits for each property, a blanket policy provides one aggregate limit available at any covered location. If a Florida landlord has a $5 million blanket policy covering five properties, the full $5 million is available for a loss at any single location. This eliminates the risk of being underinsured at a specific property.
Hurricane Risk Considerations
Florida's hurricane exposure creates unique considerations for blanket policies. A single storm could damage multiple covered properties simultaneously, potentially exhausting the aggregate limit. Property owners should model worst-case scenarios, consider per-location sub-limits, and ensure adequate windstorm coverage across the entire blanket portfolio.
Related Terms
- Blanket Mortgage
- Insurance
- Premises Liability
Barnes Walker Business Law
Barnes Walker advises on insurance coverage for Florida property portfolios. Contact us for guidance.
Reviewed by the attorneys at Barnes Walker, Goethe, Shea & Robinson, PLLC