Real Estate Glossary | What is Insurance Binder??

Q: What is Insurance Binder?

A document that provides temporary proof of insurance coverage, typically used as a temporary measure before a permanent insurance policy is issued. Insurance binders are typically issued by insurance agents and brokers when an individual or organization needs coverage right away but the policy has not yet been issued. Binder provides the coverage and protection in the meantime, but the full policy will have more details.

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