A binder is a temporary insurance contract issued by an insurance company or agent that provides proof of coverage until a permanent policy is issued. It includes essential details like coverage terms, limits, and the effective date. On the other hand, a declarations page, often referred to as the “dec page,” is a permanent part of the insurance policy that outlines the specific coverages, limits, insured parties, and premium amounts of the issued policy. While the binder serves as immediate proof of insurance, the declarations page is part of the formal policy document, detailing the finalized terms and conditions of the insurance contract.