If your business has more than 1 location it would be wise to consider blanket coverage for your building and/or contents insurance. If you blanket the total values, that provides a cushion in the event of a loss compared to having specific values listed per location.

For example, if Business A has 2 locations with values of $100,000 on the building and $50,000 of contents for location 1, and $200,000 on the building and $100,000 of contents at location 2, and you blanket the values, the business would have $450,000 of total building and contents insurance coverage in the event of a loss at either location.

If Business A had the same values above on a scheduled basis and then had a $60,000 loss of contents at location 1, the insurance company would only pay up to a maximum of $50,000 but if the policy was written on a blanket basis, the entire $60,000 loss would be paid.

It would be wise to discuss this coverage with your agent if applicable to your business.

Call us at HJ Spier for more information.