Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

What is an insurance binder? Do I need one for closing?

April 26, 2017binder closing Insurance

0

Posted

What is an insurance binder? Do I need one for closing?

1 Answer

0

Posted

A homeowner’s insurance policy for the property must be in force at the time of the closing. An insurance binder is a homeowner insurance company’s written commitment to insure title to the property, subject to the conditions and exclusions shown on the binder.