Florida General Lines Agent Practice Exam 2026 – Comprehensive Study Guide

When properties are insured on a blanket basis, the total coverage limit combines the values of all covered properties into a single amount. In this case, Property #1 is valued at $200,000, and Property #2 is valued at $300,000. To calculate the total coverage limit, you simply add these two amounts together:

$200,000 (Property #1) + $300,000 (Property #2) equals $500,000.

This total reflects the maximum amount that would be covered under the blanket policy for any loss or damage to either of the properties. This type of coverage offers flexibility because the insured can draw from one pool of coverage rather than having separate limits for each property, which can be particularly useful if one property suffers a loss greater than its individual coverage limit.