![]() ![]() Your insurance binder contains important policy details like coverage limits and deductible amounts. Your homeowner’s insurance binder is valid until you receive your official contract. ![]() An insurance agent will write the details of your policy in an insurance binder to serve as a temporary insurance policy until the official policy is finalized. When you buy a home, your lender will require proof of insurance. What is a Homeowners Insurance Binder?Ī homeowners’ insurance binder is a document between you and your insurance agent that proves you have purchased homeowners’ insurance. Here’s everything you need to know about getting a homeowners’ insurance binder to be prepared for your mortgage application. If you’ve never heard of this document, you’re not alone. When it’s time to apply for a mortgage loan, you’ll probably need to have a homeowners’ insurance binder. During the process of buying a new home, you’ve likely been introduced to a variety of new confusing terms and documents. ![]()
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