Before choosing Metro Title for your title insurance and other property closing needs, you will want to make sure you know the details of what you are getting. There are different types of title insurance and knowing what coverage you will be afforded will provide you with peace of mind. These, often overlooked, details can also help to ensure you are getting the service you need and a policy that is right for you. There is no reason to settle for less than quality coverage as a property owner, and your lender will insist on strong coverage for themselves, as well.
The two most common types of title insurance policies issued are an owner’s title policy and a lender’s title policy. The owner’s title policy insures the new owner(s), while the lender’s policy insures the lender. Both policies offer protection to the insured parties against possible defects in the property title. This is why a title search is conducted before a property is transferred from one person to another. It reduces the chances that someone else will have any claim to that property and gives the insured peace of mind, knowing the title will handle any such claims and your property will not be at risk.
Metro Title can answer your questions and give you the information you need, in order to help you make an informed decision about your title insurance and other closing needs. While your lender will require a policy for themselves, you may have some options for your title insurance. Asking about coverage limits and offerings is among the best ways to make sure you have knowledge of the issue and you have checked on policies to understand what you need and why it is important for your future.