Which basis gives a single limit that applies to both buildings and contents?

The concept of a blanket basis in insurance refers to a single limit of coverage that applies to multiple categories of property or risks under one policy. When it comes to property insurance, a blanket basis allows a single aggregate limit of coverage to apply to both buildings and contents. This approach offers more flexibility in managing insurance limits, as policyholders can use the coverage limit to protect various types of property without being restricted by separate limits for buildings and contents.

Using a blanket basis can be particularly advantageous, as it simplifies policy management and provides broader protection. If the insured loses a building or personal property, they can rely on this one limit to cover the loss, which can be beneficial in situations where the specific value of each category might not be known or fluctuates.

The other options, while related to coverage concepts, do not provide this specific benefit. For example, an aggregate basis typically refers to the total limit available for a type of coverage over a defined period, rather than applying it to multiple types of property collectively. A combined basis is not a term typically used in property insurance to denote a single limit that covers both buildings and contents. Specific basis involves individualized limits for distinct types of property, which doesn't offer the consolidation advantage that blanket coverage does.