What is an Insurance Binder?!?

My lender told me I need an Insurance Binder… what is it?!?

An insurance binder is simply a legal document stating that insurance coverage is in place. This is serves a temporary, (typically 30 days) proof of coverage until the full policy is issued.

The insurance binder is a one or two page document that includes the policy effective dates, the insurance carrier, your name and the lienholder (mortgagee clause information).

Closing on a new home or refinancing? Need a referral to great local lender? Reach out. We can help.

Contact us today: info@insurewithrichardson.com

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Are you ready to save time, aggravation, and money? The team at Richardson Insurance is here and ready to make the process as painless as possible. We look forward to meeting you!

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