When you think of binders, you may think of school or work. But home insurance?
Yes, a home insurance binder is a real (though temporary) thing. You can think of it as a temporary driver’s license that gets you on the road while you wait for your permanent license to arrive. Insurance binders provide proof of your coverage until your complete policy is done.
Learn more about what a home insurance binder is, why you need one, what’s included and how long it lasts:
What is a home insurance binder?
A home insurance binder is a temporary document that serves as proof of your policy until the underwriting process is complete. They provide details on your coverage. When you receive your complete policy, you no longer need the binder.
Why would you need one?
When you apply for a mortgage, you have to show your lender that you’ve purchased homeowners insurance. A home insurance binder provides proof of coverage until you receive your full policy.
What’s included in a homeowners insurance binder?
This is what you’ll typically find in a home insurance binder:
- How long the policy lasts
- Information about your insurance company
- Deductible, coverage amounts and limits
- Type of policy
- Hazards you’re protected against (such as weather-related damage, theft and vandalism)
Does a home insurance binder expire?
Insurance binders are generally valid for about a month. Once you receive your final policy with its declaration page, you no longer need the binder.
Have questions about your home insurance? Reach out so we can chat.
Are you planning to travel or host a gathering this holiday season? While there’s plenty to look forward to this time of the year, unfortunately there’s also a spike in fires, car crashes and other accidents.
As you plan holiday travel or make a to-do list for hosting friends and family at your house, brush up on these safety tips as well:
Home Safety Tips
- Don’t leave the stove or fryer unattended. Avoid cooking fires by keeping an eye on in-progress dishes.
- If you’re leaving town, tell a trusted neighbor. They can keep an eye on your house and collect your mail.
- Use holiday lights with care. Check whether lights are for indoor or outdoor use. Make sure you replace older strands of lights and don’t string lights on a metal tree.
- Keep an eye on candles. Place candles on sturdy surfaces, and don’t leave them alone. Alternatively, consider fake candles.
- Check your smoke detectors. Replace the batteries as needed.
- Seal windows and doors. Keep water from getting in through cracks in your windows, walls or doors.
- Schedule a fireplace inspection. If you have a fireplace, it’s a good idea to have a chimney sweep clean and inspect your fireplace.
Vehicle Safety Tips
- Don’t drive while impaired. Have a designated driver in your group, or take a taxi or rideshare home. Remember that driving drowsy is also unsafe.
- Avoid distractions. Put your phone away when behind the wheel. Keep children and pets restrained.
- Be prepared for inclement weather. Check the forecast before leaving, and make sure you have a windshield scraper if snow, sleet or ice is coming.
- Keep emergency supplies on hand. If you get stranded in bad weather or have to wait for roadside assistance, you might need blankets, bottled water, snacks or a flashlight.
- Get your car serviced. Have your mechanic check out the tires, brakes and other important components at your next oil change — before traveling for the holidays.
Have questions about your home or auto insurance? Reach out anytime. We’re happy to help.