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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.
Another option is a blanket insurance policy. A blanket policy covers either multiple pieces of business property and/or multiple property locations with one limit of insurance. Letâs look at an example of how this coverage would look for the same business, only with a blanket coverage amount: