Handyman Insurance – What is a Binder
Wednesday, May. 4th 2022 6:25 AM
A binder is a legal agreement that serves to effect insurance coverage for a specified period of time until the actual contractors insurance policy can be issued. A binder can be issued by either a contractors insurance agent or company and must provide the following information:
- Name of insured
- Type of insurance coverage
- Limits of insurance
- Covered perils
- Name of insurance company
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