Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about Car Insurance Terms and other Car Insurance topics.

What is a car insurance binder?

Auto Insurance Definitions: Binder

A car insurance binder is a temporary and immediate contract for auto insurance, even if the auto insurance premium has not been paid nor the car insurance policy issued. The auto insurance binder can be spoken or written, is valid for a specific amount of time, and is in effect until the new car insurance policy is issued.

Comments

Nobody has commented on this tip yet. Be the first.

Ask a Question

Not finding the advice and tips you need on this Car Insurance Tip Site? Request a Tip Now!

Guru Spotlight

Sheri Ann Richerson

Ever wonder how you could make your life better and more fun? So have tens of millions of fans who have turned to LifeTips for answers over the past decade. We keep the tips, advice, books, podcasts and writing services flowing, so you can keep your life and business growing in the right direction. Upward!