However, insurance binders are enforceable contracts. Much of the policy terms and conditions are presumed. ![]() In fact, not all details about the policy are provided in a binder. ![]() That way, you can show that you paid for a policy and an insurance company has agreed to cover your risk.īinders are not fully written insurance contracts. Unfortunately, you sometimes need evidence that you’ve purchased a policy, so your insurance company sends you an insurance binder. This often happens because the insurer’s underwriting department still has to review your application. ![]() When you purchase insurance, you often need to wait for the insurance company to issue a policy that outlines the details of the contract, such as what’s covered, what’s excluded, how long the coverage lasts.
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |