For an Insurance Binder, please complete the following information below. Please fax or upload and attach any insurance requirement documents that you have received to ensure the proper handling and processing of your request. Should you have any questions and/or require immediate assistance please don’t hesitate to call us after your request is completed.
Insurance Binder FAQ’s
What is an insurance binder?
An insurance binder is proof of insurance that confirms you have purchased coverage for a specific property location or vehicle described in the insurance binder. The binder will include all the necessary information about the insurance contact and what coverages have been purchased including risk location, coverage, deductible(s), and policy period. Binders are typically issued for property or vehicles.
When is an insurance binder needed?
A car insurance binder is often used to prove that you have obtained insurance on your vehicle and may be a requirement of a car dealership, lease or finance company when purchasing a new car. A car insurance binder will list a description of coverage such as liability, collision, comprehensive and deductibles. The binder will also list the lease or finance company requesting the information.
A home insurance binder proves that you have purchased insurance coverage on your home or property. It is most commonly used when purchasing new property or re-financing an existing loan. A home insurance binder will list the property location, the amount of insurance purchased, the policy deductible and policy period. The home binder will also list the mortgage company or lender for the property.
How long is an insurance binder good for? An insurance binder is valid for a maximum of thirty (30) days at which point it is replaced with the insurance policy declarations page or coverage selections page.