Certificate of insurance 

Certificateof insurance  What is a binder for auto insurance? Most auto insuranceconsumers don’t understand what goes on after they submit an application. Whenyou go to an auto insurance agent’s office and buy same-day cheap autoinsurance coverage, it’s easy to assume the process is straightforward.However, there is actually a lot of work that happens behind the scenes. Onceyou apply, the insurance company initiates a process to assess the risk of eachdriver. During this process, the insurance company gives applicants a temporarybinder letter, so that you are not without any form of protection. What is anauto insurance binder letter? It’s temporary evidence of insurance that coversyour driving while you’re waiting for the underwriting process before yourformal insurance policy is active. An insurance binder may also be called aninsurance policy binder, title binder, interim binder, insurance card, orcertificate of insurance. Even though the binder is only an interim certificateof insurance, it is a fully enforceable contract of insurance.

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