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Understanding an Owner's Policy

Protecting Yourself from Potential Risk

While a lender's policy covers the lender and the full amount of the loan, it usually doesn't cover the full property value. It also doesn't protect you, the purchaser, against a loss that may occur from a fault in the ownership or interest you have in the property. While this type of policy is optional, the peace of mind that comes from knowing you'd have legal and monetary support in the event of a claim, is worth the small additional fee.

An owner's policy is usually issued in the amount of the real estate purchase and can be done at the same time as the lender's policy. It is purchased for a one-time fee at closing and is valid for as long as the owner or his heirs have an interest in the property.


Order a lender's policy

Step 2

At the same time, order your owner's policy

Step 3

Pay a one-time fee at closing

Frequently Asked Owner's Policy Questions

What does an owner's policy provide?

Protection from financial loss due to demands that may be charged against the title to your home, up to the cost of the title policy. Payment of legal costs if the title insurer has to defend your title against a covered claim. Payment of successful claims against the title to your home covered by the policy, up to the cost of the policy.