Protect your home or land from loss due to defects in the title as insured. We provide owner's title insurance policies, lender's title insurance policies, and lender's short form policies.
Why do I need title insurance?
For your protection. Your home may not be your home unless you have owner's title insurance.
There are hidden risks involved with purchasing a home and/or property. You are not assured a good title (that is, a title free of any rights or claims of prior owners or creditors) simply by paying your money and receiving a deed.
Owner's title insurance will protect you against hidden risks which would not be disclosed by even the most meticulous search of public records.
But I thought the bank or lending institution always had the title insured . . .
It usually does. But its policy only insures its own interest in your property. You could lose your equity if you do not have owner's title insurance.
Couldn't an attorney search the title and render an opinion?
Yes, and a search by an attorney or expert titleman takes place before a policy is issued. But the insurance goes further. If a defect in the title - any defect not shown as an exception in your policy - should turn up later, you are protected against loss by your title insurance within the limits of the policy.
Just what is a title defect?
It is any one of a number of things that could jeopardize your interest. It could be an unsatisfied mortgage, lien, judgment or other recorded claim against the property. It could arise through easements, use restrictions or other existing covenants. Or it could be a hidden risk. To name only a few of these: fraud or forgery in previous documents; improperly executed deeds; the marital status of previous owners; deeds executed under expired powers of attorney . . . . The list could go on and on. A look at court records would reveal many instances of these and hundreds of other ways in which parties you may never have heard of could claim an interest in your home.
You mean an owner's title insurance policy insures against these title defects occurring?
No. But owner's title insurance does eliminate the risk of loss to you through claims against the title as described in your policy. The insuring company assumes all legal expenses involved in adjudicating claims and protects you against any loss whatever arising from claims attacking your title, within policy limits, even though they may occur through errors made in public records.
If I didn't have owner's title insurance, how serious would a claim against my home be to me personally?
It could be very serious. It would mean you would have to withstand all expenses involved with the defense of your rights, and could even result in complete loss of your equity if your defense proved unsuccessful.
Is owner's title insurance as important to me as fire or property damage protection?
Emphatically yes. Loss from title deficiencies can be as great as, or greater than, fire or other damage.
If owner's title insurance is so important and covers so much, isn't it expensive?
No. Owner's title insurance is one of the most inexpensive forms of insurance. Rates are set by the Commonwealth of Pennsylvania and depend on the amount of service required. But the premium is surprisingly low in relation to the cost of your home - one of the most important purchases you will ever make.
Use our PA Title Insurance Rate Calculator to determine how much your title insurance will cost.
If you already have title insurance on the subject property, you will receive a discounted re-issue rate when you wish to refinance or sell. Contact us for more details.
And do I pay only one premium?
Yes. And this one modest premium insures your home for as long as you or your heirs have an interest in it. It's best to have your owner's policy issued at the time you take title to your property. This eliminates the need to pay for having the title searched for a second time.
How long is it good for?
Your owner's title insurance is good for as long as you own your property.