Title Insurance Policies

These policies protect you from any unforeseen issues with the title, including forgery, fraud, and undiscovered liens. If a problem does arise, your title insurance policy will cover the cost of any legal fees associated with resolving the issue.

Owner's Title Insurance is effective for the entire period of home ownership and is paid as a one-time premium at the time of closing. Standard and enhanced policies are available to meet your specific needs.

Mortgage lenders also require lender's title insurance, also known as a loan policy, to protect their interests against potential title issues. This policy is effective for the life and size of the loan, with coverage gradually decreasing as the loan is paid off. Although it is usually paid for by the homeowner at closing, lender's title insurance does not extend protection to the homeowner.

What is a title insurance policy?

Title insurance policies are offered as a service by title agencies and are designed to protect buyers and lenders from any potential title-related issues that may arise after the closing of a real estate transaction. A title insurance policy provides coverage for losses resulting from defects in the title of the property, such as undisclosed liens, conflicting claims of ownership, or errors in public records.

Why are title insurance policies helpful?

Title insurance policies are important because they help to mitigate the risk of loss for both the buyer and the lender. Without a title insurance policy, the buyer or the lender could be responsible for paying the costs to resolve any title-related issues that arise after the closing. A title insurance policy provides peace of mind and helps to ensure that the real estate transaction is completed smoothly and without any unexpected surprises.

What makes a good title insurance policy?

A good title insurance policy should provide comprehensive coverage for any title-related issues that may arise, including coverage for legal fees and other expenses incurred to resolve the issue. The policy should also be underwritten by a reputable title insurance company with a strong financial rating and a history of paying claims promptly. It is important to carefully review the terms and conditions of the title insurance policy before purchasing to ensure that it provides the protection you need. Your title agency can answer any questions you have about your coverage.