What is Title Insurance?
Title insurance protects the legal ownership of a purchased property. Before you purchase a property, it may have gone through several ownership changes. Title insurance coverage is designed to insure that the chain of ownership to the property is valid and free of defects.
Types of Coverage
Generally there are two types of Owner’s Title Insurance Policies available: Standard and Enhanced. Unlike other forms of insurance, traditional title insurance protects against events that have happened in the past. With an Enhanced Homeowner Policy you are also covered for certain future events and the amount of coverage will increase over the first five years of ownership!
Standard Owner’s Policy Vs. Enhanced Owner’s Policy
An “Enhanced Homeowner’s Policy, if selected, will increase the premiums by 10%.