Specific Insurance

What Does Specific Insurance Mean?

Specific insurance is a type of property insurance that provides coverage for a single, specific property under the policy. It serves as an alternative to blanket coverage, which allows a policy to cover multiple properties or locations. A single property can be covered by both a specific insurance policy and a blanket policy simultaneously.

Insuranceopedia Explains Specific Insurance

Specific insurance is particularly relevant for individuals who own multiple properties. By purchasing specific insurance, only one property will be covered under the policy. In contrast, a blanket policy can provide coverage for all properties under a single policy. Business owners, such as those operating chain restaurants or managing multiple locations, often face the decision of choosing between specific insurance and blanket coverage for their properties.