Homeowners Insurance Binder

Definition

  • A document accompanying a homeowner's insurance policy. Its sole purpose is to verify that the homeowner's property is, in fact, properly insured.

Synonyms
temporary insurance, immediate insurance, interim protection

Related Terms and Acronyms

  • Act of God (AOG) Acronym,
    • When used in insurance policies, an event caused by natural forces such as hail, rain, tornado, lightning, floods or earthquakes, which results in damage to property.
  • Binder Definition,
    • An agreement to consider the purchase of real estate. The agreement is secured and backed by a cash deposit as evidence of good faith on the part of the purchaser.
  • Contract Definition,
    • An agreement between two or more parties that can be enforced by law.
  • Homeowners Insurance Definition,
    • A policy that includes hazard coverage, covering loss or damage to property and/or assets located within, as well as coverage for personal liability and theft.
  • Property Insurance Definition,
    • Insurance that provides coverage for damages to property from a number of perils.
  • Purchase Agreement Definition,
    • A written promise to pay a specific amount for a property at a specified time. The purchase agreement is a written statement of the offer, which both the borrower and the seller will sign if the offer is accepted.
Compare. Calculate. Apply today.
Compare Mortgage RatesMortgage CalculatorsApply for a Mortgage