An insurance binder acts as a placeholder for a formal insurance policy. You may need to provide a lender with an insurance binder in order to take possession of an asset used to secure the loan.

CheapInsurance.com reports that auto insurance policies can be canceled within 60 days for various reasons, including ...

Penny Gusner is a senior insurance writer and analyst at Forbes Advisor. For more than 20 years, she has been helping consumers learn how insurance laws, data, trends, and coverages affect them. Penny ...

Les Masterson is a deputy editor and insurance analyst at Forbes Advisor. He has been a journalist, reporter, editor and content creator for more than 25 years. He has covered insurance for a decade, ...

COIs verify business insurance coverage, outlining policy type, effective dates, and limits. Unlike insurance binders, COIs are issued for active policies after underwriting is complete. Businesses ...