Binder
A temporary agreement that provides insurance coverage while your full policy is being prepared. Binders are common when buying home or auto insurance and typically last 30 to 90 days. Once the official policy is issued, the binder is replaced.
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Disclaimer: This glossary entry is for informational purposes only and does not constitute financial or insurance advice. Consult with a licensed insurance professional for personalized guidance. GuardianChoices may earn affiliate commissions from links on this site — see our advertiser disclosure.
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