Therefore, even though the information contained is very similar, they are not exactly interchangeable. The home insurance binder is provided before the complete home insurance documents to provide temporary proof of coverage. The declarations page is included with the home insurance documents to provide a summary. Insurance binders and insurance declaration pages are similar in content, but they serve a different purpose. How is a home insurance binder different from a declarations page?Īt this point, you might be thinking that the home insurance binder sounds a lot like an insurance declaration page. This includes the start date of coverage and the end date. There may be separate deductibles for different coverage types.

This includes separate limits for various coverage types. The type of coverage and covered perils.The insurance company providing coverage.This is typically the homeowner or homeowners. The address of the house being insured.This information typically includes the following: It should include key information about the insurance policy you just purchased. What is a home insurance binder? What’s included?Ī home insurance binder is a simple document that provides proof of your insurance coverage. It can come in handy, especially if you’re trying to close on a mortgage loan so it’s smart to request one when you purchase insurance. The insurance binder shows that you’ve purchased insurance coverage. First of all, why do you need an insurance binder? How do you get one from your insurance provider? And most importantly, what is a home insurance binder?Ī home insurance binder is not a folder where you keep your insurance paperwork – although that might be useful, too! In this case, “binder” refers to binding, as in a binding contract. If you’ve been told that you need a home insurance binder, you might have a few questions.

Insurance binder vs declaration