Broad Form Insurance

What Does Broad Form Insurance Mean?

Broad form insurance is a type of coverage that extends beyond basic or standard insurance to protect against unusual or high-risk scenarios that could lead to significant financial losses. It can apply to various types of insurance, including those covering assets and investments, and often comes with a higher premium and deductible.

Insuranceopedia Explains Broad Form Insurance

Broad form insurance often serves as a type of supplemental coverage, designed to fill in the gaps of basic plans or provide protection for unique situations or hazards. For instance, a driver might choose broad form insurance to cover glass damage on their vehicle, as a standard automobile insurance policy may not include this type of coverage. It is one of several types of car insurance that drivers can add to a policy depending on what their base plan leaves out.

Not every insurer packages broad form coverage the same way, so the price and included perils can vary quite a bit between top car insurance companies.