Whether you’re purchasing a new or existing home, or refinancing, Title Insurance protects you against any problems affecting the ownership of your home.
There are two types of Title Insurance: the Owner’s Policy and the Lender’s Policy. The Owner’s Policy protects your property rights as the homebuyer, whereas the Lender’s Policy insures the financial investment of the bank or Lender. If someone else claims ownership of your property, Title Insurance typically defends you legally and financially.
Here are some examples of problems with title:
When you refinance, you are obtaining a new loan, even if you stay with your original Lender. Lenders will usually require a new title search and Lender’s Policy to protect their investment in the property. Fortunately, homeowners don’t need to purchase a new Owner’s Policy—the one you bought at closing is good for as long as you or your family own the property; however, you may want to contact us to update your policy to reflect changes in your life.
Owner’s Title Insurance is a low, one-time fee based on the value of your home. For example, the typical Owner’s Title Insurance Policy costs an average of 0.5% of a home’s purchase price. With a home being one of the largest investments you’ll ever make, it’s clear why getting Owner’s Title Insurance is such a smart way to give yourself peace of mind.
*This information offers a brief description of insurance coverages, products and services and is meant for informational purposes only. Actual coverages may vary by state, company or locality. You may not be eligible for all of the insurance products, coverages or services described above. For exact terms, conditions, exclusions, and limitations, please contact your local office.