Hazard Insurance Binder Screener

Is this binder ready for the lender?

Eight items lenders commonly require. Check off what's confirmed — the gaps are your to-do list.

Free tool, no login needed. Nothing you check is saved or sent anywhere.

Coverage amount meets or exceeds the loan amount

Lenders require the dwelling covered for at least the loan balance (often replacement cost).

Ask: What is the Coverage A / dwelling limit, and does it meet the lender's minimum?

Deductible is within the lender's maximum

Many lenders cap deductibles (commonly 5% of coverage); a higher deductible stalls closing.

Ask: What is the dollar deductible, and what percentage of coverage is that?

Mortgagee clause names the lender correctly

A wrong lender name or loan number on the clause means the binder gets rejected.

Ask: Read the mortgagee clause back verbatim — exact legal lender name and loan number?

Policy effective date is on or before closing

No effective coverage on closing day = no closing.

Ask: What is the exact effective date, and is the first year's premium paid?

Premium paid for the full first year

Lenders require the first year paid in full at or before closing.

Ask: Is there a paid receipt for 12 months, and who paid it?

Flood insurance verified if in a flood zone

Flood-zone properties need a separate flood policy with its own mortgagee clause.

Ask: Is the property in a Special Flood Hazard Area? If yes, where is the flood binder?

Condo: HO-6 / walls-in coverage confirmed

Condos need the unit-owner policy on top of the master policy — lenders check both.

Ask: Is there an HO-6 policy, and what does the HOA master policy cover?

No unacceptable exclusions for the area

Wind, hail, wildfire, or earthquake exclusions in exposed areas raise lender questions.

Ask: Are there exclusions for perils common in this area, and is supplemental coverage in place?

8 of 8 items still open: Coverage amount meets or exceeds the loan amount; Deductible is within the lender's maximum; Mortgagee clause names the lender correctly; Policy effective date is on or before closing; Premium paid for the full first year; Flood insurance verified if in a flood zone; Condo: HO-6 / walls-in coverage confirmed; No unacceptable exclusions for the area. Clear these with the insurance agent before closing week.

Checklist aid only. Requirements vary by loan program, investor, and lender. This tool organizes the common items — it does not certify that any binder is acceptable. The lender makes the final call.