For a one-time fee that is collected at closing, an Owner's Policy protects you and your heirs from financial loss due to defects in the title to the real property. Your policy can protect you from things like:
Mistakes in public records
Unpaid mortgages / property taxes / liens
Unknown heir of a previous owner who later claims an ownership interest in the property
A forged signature on a previously recorded deed
Instruments executed under an expired or fabricated power of attorney
...and much, much more!
peace of mind
The process is made simple with only two types of insurance policies: Owner's and Lender's.
Your lender doesn't live in your home; you do.You should have a policy to protect your investment as well. If a problem does arise; an Owner's Policy can protect you.
Your lender will require a title insurance policy to protect their investment, this is the Lender's Policy. This protects the lender’s interests in the property if a problem were to arise.