When you are issued an insurance binder, you receive a document outlining all of your coverages. Insurance agents will typically issue a binder when you've just purchased a new vehicle or changed your existing policy. What Is a Car Insurance Binder?Ī car insurance binder is a temporary contract between you and your insurance company that gives you coverage until your official policy is issued. In this article, we’ll cover all things insurance binder-related, including when you would need an insurance binder, how it's different from your insurance policy, what it includes, and why they're becoming less common.
As you can imagine, there’s a little more to it than that.
When shopping for car insurance, you'll likely come across the term "insurance binder." In short, an insurance binder is a temporary document that provides proof of insurance coverage.
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