Combining risk objects and coverages in a blanket

The risk objects or coverages that can be included in a blanket are:

• Building Only
• Personal Property Only
• Building and Personal Property Combined
• Business Income with Extra Expense
• Business Income without Extra Expense

Business Income is coverage for loss of income due to a covered loss such as fire. Business Income with Extra Expense is coverage for extra expenses incurred due to a loss such as setting up a temporary office while damaged office space is being repaired or replaced. Time-element coverages (Business Income and Business Income with Extra Expense) are not typically combined with direct loss coverages (Building and Personal Property).

Examples of blanket types include:

• Blanket for all Personal Property across all locations
• Blanket for single Location for Building and Personal Property Combined
• Blanket for multiple locations for all Buildings
• Blanket for multiple locations for Business Income and Extra Expense

When risk objects or coverages are combined in a blanket, certain coverage terms are no longer applicable. For example, you may choose to make a coverage unavailable if the associated risk object is covered by a blanket.