Blanket insurance or coverage is a term for policies covering more than one item or type of property. For instance, homeowners insurance is a form of blanket insurance because it covers the home’s structure and the personal possessions within it. However, you can add higher blanket coverage limits to your policy for specific types of items like jewelry. You could add $50,000 of blanket coverage for jewelry, and then your policy would pay out up to that amount on covered losses. That differs from scheduling personal property in that you can cover all your jewelry with this blanket coverage. In contrast, you would have to cover each item individually if you were using scheduled personal property coverage.