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Eagle Trust Insurance

Massachusetts Auto, Home, Business, and Life Insurance Company

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Massachusetts Homeowners Insurance Binders

Before you purchase a home or refinance a mortgage, you may be asked for an insurance binder. What is an insurance binder? What does it include? And why do you need it? Here’s a quick overview of Massachusetts homeowners insurance binders.

What Is a Homeowners Insurance Binder?

A homeowners insurance binder is essentially proof that you’ve purchased insurance. It is issued by your insurance company or insurance agent. If you are buying a home, your policy may not be effective until the actual closing date. So, the insurance binder acts as temporary proof of coverage until the policy is formally issued/effective.

Information Included in Insurance Binders

Massachusetts homeowners insurance binders include several important pieces of information. The first is the insurance company’s contact information. If you are using an independent insurance agent, then their information will be listed as well. The binder should also list other key details such as:

  • Property Address
  • Owner’s Name and Address
  • Policy Effective Date
  • Binder Expiration Date
  • Policy Type
  • Coverage Limits
  • Mortgage Company Name, Address, and Loan Number
  • Any Special Conditions

Requesting Massachusetts Homeowners Insurance Binders

For new policies, you will need to provide certain information in order to obtain an insurance binder and price quote. Massachusetts homeowners insurance companies will ask for the property details (address, size, features) and your personal information. Property details are used to calculate replacement value. Your information is used to retrieve claim history and determine risk level. Both property and owner information contribute to policy pricing and whether the company would extend a policy to you at all. Insurance binders can also be requested on existing policies. Your insurance agent can assist with obtaining an insurance binder.

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Eagle Trust Insurance

125 CambridgePark Drive, Suite 301
Cambridge, MA 02140
Phone #: (617) 625-8400
Toll-free #: (800) 390-1446
Fax Number: (617) 625-8424

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Monday-Friday 9am-5pm
After-hours: Calls will be handled by our emergency call center

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