A binder "temporarily obligates the insurer to provide ... insurance coverage pending issuance of the insurance policy." (Ins. Code, 382.5, subd. (a); see Adams v. Explorer Ins. Co. (2003) 107 Cal.App.4th 438, 451, a binder is a " 'temporary contract of insurance' ".) Insurance Code section 382.5 provides in relevant part: "A binder which is issued in accordance with this section shall be deemed an insurance policy for the purpose of proving that the insured has the insurance coverage specified in the binder. (a) As used in this section, 'binder' means a writing (1) which includes the name and address of the insured and any additional named insureds, mortgagees, or lienholders, a description of the property insured, if applicable, a description of the nature and amount of coverage and any special exclusions not contained in a standard policy, the identity of the insurer and the agent executing the binder, the effective date of coverage, the binder number or the policy number where applicable to a policy extension ... ." A binder remains in force for at least 30 days unless it is cancelled, rejected, or surrendered earlier. (Ins. Code, 481.1, subd. (b).) If cancelled, rejected, or surrendered, the coverage terminates 10 days after written notice to the named insured is deposited in the mail. (Id., 481.1, subd. (a).) A binder is an independent contract, separate and distinct from the permanent insurance policy. (Adams, supra, 107 Cal.App.4th at p. 451.) Formation of a binder is governed by the law of contracts. (Apparel Mfrs. Supply Co. v. National Auto. & Cas. Ins. Co. (1961) 189 Cal.App.2d 443, 453-454 11 Cal.Rptr. 380.) "Whether or not a valid binder exists is a question of fact insofar as a finding comprehends issues relating to the credibility of witnesses or the weight of the evidence, but a question of law insofar as a finding embraces a conclusion that such factual elements do not constitute a valid oral binder." (Spott Electrical Co. v. Industrial Indem. Co. (1973) 30 Cal.App.3d 797, 805 106 Cal. Rptr. 710.) "Whether undisputed facts establish the existence of a binder is a question of law." (Adams, supra, 107 Cal.App.4th at p. 451.) A binder must include the following information: (1) the name and address of the insured and any additional named insureds, mortgagees, or lienholders, and a description of the property insured, if applicable; (2) a description of the nature and amount of coverage and any special exclusions not contained in a standard policy; (3) the identity of the insurer and the agent executing the binder; (4) the effective date of coverage; (5) the binder number or the policy number (only if applicable to a policy extension). (2 Witkin, Summary of Cal. Law (10th ed. 2005) Insurance, 38, pp. 70-71; 2 Cal. Insurance Law & Practice (2010) 9.061, pp. 9-25 to 9-26 (rel. 8-4/90).) A binder is deemed to include all of the usual terms of the policy as to which the binder was given, together with applicable endorsements. (Ins. Code, 382.5, subd. (b).) A binder is not necessarily a formal and comprehensive document but "is usually a memorandum evidencing the formation of a contract." (2 Cal. Insurance Law & Practice, supra, 8.033c, p. 8-24 (rel. 31-11/97).) " ' "The binder issued on an application for insurance is a mere memorandum of the most important terms of a preliminary contract of insurance, intended to give temporary protection pending the investigation of the risk by the insurer or until the issuance of a formal policy." ' " (Ahern v. Dillenback (1991) 1 Cal.App.4th 36, 48.)