State Farm Insurance License Practice Exam

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What kind of properties can blanket insurance cover?

  1. Only residential properties

  2. Only commercial properties

  3. Multiple items at one or multiple locations

  4. Only items in transit

The correct answer is: Multiple items at one or multiple locations

Blanket insurance is designed to provide coverage for multiple items across one or more locations under a single insurance policy. This type of coverage is particularly beneficial for businesses that have various assets spread out over different locations, as it simplifies the insurance process by not requiring separate policies for each location or item. The flexibility of blanket insurance allows for quicker adjustments to cover newly acquired items or locations without needing to amend several individual policies. Therefore, it encapsulates a broad range of properties rather than limiting coverage to just residential or commercial properties or specific situations like items in transit. This approach helps mitigate the risks associated with managing multiple assets and ensures comprehensive protection.

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