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DEFINITION of 'Blanket Bond'. Insurance coverage carried by brokerages, investment bankers, and other financial institutions to protect them against losses due to employee dishonesty. Next Up. Examples of things that a blanket bond might cover are forged checks, counterfeit currency, fraudulent trading, and property damage.
Save. Jupiterimages/Stockbyte/Getty Images. A blanket mortgage is a mortgage that covers multiple properties or pieces of land. The arrangement allows for a property owner or developer to pool property loans into a single loan with a single lender and the same terms, including one interest rate and one regular payment.