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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. Property insurance policies consist of many limits, and each of them is applied to each location. In lieu of scheduling each limit and location independently, a blanket property policy utilizes one limit for all coverages and locations.