This temporary document is used in place of the insurance policy’s declarations page (dec page). What is a Home Insurance BinderĪ home insurance binder is a temporary document issued by an insurance agent on behalf of the insurance company to provide proof of insurance to the buyer of a real estate property. We’ll stick with the most common names throughout this explanation. When hearing these different names just know they’re referring to the proof of property insurance. key terms associated with these types of legal documentsįirst, binders are often referred to by several different names: home binder, evidence of property insurance (EPI), homeowners insurance (HOI), real estate binder, property insurance binder, mortgage binder, closing binder, escrow binder, and even owner’s policy binder.what to expect after your binder is issued.what a property (home) insurance binder is.In this article we will be discussing property insurance binders. In real estate transactions, there are various binders used to get the seller and buyer to closing day.
