Title Insurance protects the homeowner and/or lender against certain claims and loss. If a claim or loss should arise, title insurance will, in accordance with the terms of the policy, assure you of legal defense and pay all court costs and related fees and in some cases you will be reimbursed for your actual loss up to the face amount of the policy.

There are generally two types of title insurance a Lenders Policy and an Owners Policy.
The Lenders Policy protects the mortgage lenders beneficial interest in property. The Owners Policy protects the homeowners interest in the property.

Under a standard Owners Policy; the insured parties are protected from:

Title being vested other than as stated in the policy.
Example: If an unnamed person or entity should make claim to an interest in your property and said claim was created before the effective date of the policy, the insuring party will defend and pay for the defense of your interest.

Any defect in or lien on the title.
Example: If any person or entity should make claim to a lien or beneficial interest in your property and said claim was created before the effective date of the policy, the insuring party will defend and pay for the defense of your properties title.

The unmarketability of the title.
Example: If you are unable to sale your property due to a defect on title before the effective date of the policy, the insuring party will free of charge, work to correct the defect and in some cases reimburse you for any and all actual loss you may have incurred, up to the face amount of the policy.

Lack of access to and from the land.
Example: Title insurance assures the homeowner that there exists valid means of entry to and from your property and that the property is not “land locked “.

An Owners Policy provides a lifetime of protection for a one time fee.