No, a certificate of insurance is not the same as a binder. A homeowners insurance binder details temporary coverage the insurer is providing until a policy is formally issued. It can be used as proof of insurance for lenders, but it's more than that -- it's the agreement with the insurer to provide temporary coverage. A certificate of insurance, on the other hand, is issued after coverage is in effect, and it isn't an insurance contract -- it's used only to provide proof of insurance.