An Owner’s Policy of Title insurance is designed to protect the investment in your home. With a title insurance policy, you as owner, have an indemnity contract that will reimburse you for loss in the event someone asserts a claim against your property that is covered by the policy. Title insurance protects your property against the past as well as the future. A policyholder is protected against challenges to rightful ownership of real property and challenges that arise from circumstances of past ownerships.
If a claim is made against your insured title, Title Services Inc. through its underwriter, protects you by: (1) Defending your title, if necessary; and (2) Bearing the cost of settling the case, if it proves valid, in order to protect your title and maintain your possession of your property.
Unlike other forms of insurance, the original premium is the only cost as long as you or your heirs own the property. There are no annual payments to keep your Owner’s Title Insurance Policy in force.
A Lender’s Policy of Title Insurance protects the lender’s collateral for all types of loans whether the lender is making multi million dollar loans on commercial shopping centers or $20,000 equity line loans to homeowners. The Lender’s Policy affords similar protections for the lender that are available with the Owner’s Policy of Title Insurance.