ACORD 75 (2007/01) Page 2 of 2
This binder is effective for only ninety (90) days. Within thirty (30) days of receipt of this binder, you should request an
insurance policy or certificate (if applicable) from your agent and/or insurance company.
Applicable in the Virgin Islands
Applicable in Colorado
With respect to binders issued to renters of residential premises, home owners, condo unit owners and mobile home
owners, the insurer has thirty (30) business days, commencing from the effective date of coverage, to evaluate the
issuance of the insurance policy.
Applicable in Florida
Except for Auto Insurance coverage, no notice of cancellation or nonrenewal of a binder is required unless the
duration of the binder exceeds 60 days. For auto insurance, the insurer must give 5 days prior notice, unless
the binder is replaced by a policy or another binder in the same company.
CONDITIONS
This Company binds the kind(s) of insurance stipulated on the reverse side. The Insurance is subject to the
terms, conditions and limitations of the policy(ies) in current use by the Company.
This binder may be cancelled by the Insured by surrender of this binder or by written notice to the Company
stating when cancellation will be effective. This binder may be cancelled by the Company by notice to the
Insured in accordance with the policy conditions. This binder is cancelled when replaced by a policy. If this
binder is not replaced by a policy, the Company is entitled to charge a premium for the binder according to the
Rules and Rates in use by the Company.
Applicable in California
When this form is used to provide insurance in the amount of one million dollars ($1,000,000) or more, the title
of the form is changed from "Insurance Binder" to "Cover Note".
Applicable in Delaware
The mortgagee or Obligee of any mortgage or other instrument given for the purpose of creating a lien on real
property shall accept as evidence of insurance a written binder issued by an authorized insurer or its agent if
the binder includes or is accompanied by: the name and address of the borrower; the name and address of the
lender as loss payee; a description of the insured real property; a provision that the binder may not be canceled
within the term of the binder unless the lender and the insured borrower receive written notice of the cancel-
lation at least ten (10) days prior to the cancellation; except in the case of a renewal of a policy subsequent to
the closing of the loan, a paid receipt of the full amount of the applicable premium, and the amount of
insurance coverage.
Chapter 21 Title 25 Paragraph 2119
Applicable in Nevada
Any person who refuses to accept a binder which provides coverage of less than $1,000,000.00 when proof is
required: (A) Shall be fined not more than $500.00, and (B) is liable to the party presenting the binder as proof
of insurance for actual damages sustained therefrom.
