![]() This gives you proof of insurance on a temporary basis so that you can legally drive your vehicle. What Is A Car Insurance Binder?ĭue to the underwriting process sometimes taking a longer period, an automobile insurance company can issue a car insurance binder. Auto insurance providers base their premiums on the amount of risk they see, from a statistical point to view, from the people who are applying for policies. Verifying your data is essential for the company so that they can write you a car insurance policy that reflects the risk you present to the company. ![]() In some cases, an insurance company may need to give you an auto insurance binder so that you can drive while they await the completion of the underwriting process. Auto insurance companies use an underwriting process to verify a person’s information before selling them a full car insurance policy.
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