Home Insurance Binder. As mentioned, a homeowners insurance binder is a document provided by your insurance provider for the purposes of showing your lender what your home insurance policy. When you buy a home, your lender will.
The purchase of a home or an automobile are two of the most popular uses of an insurance binder. As per value penguin, at least 85% of homeowners in the u.s. A homeowners insurance binder is a temporary document issued by an authorized insurance representative that can serve as proof of insurance for your home, car, or property.