Southwest Ohio Premiere Title Agency

What Is Title Insurance?

Title Insurance is an indemnification contract with the insured and protects the insured over losses arising from defects or issues with their ownership or lien interest in the title to the real estate. Title Insurance not only insures over losses but also pays defense costs and attorney fees in defense of the insured’s interest.

Title insurance is an insured statement as to the condition of title or ownership rights to a property. There are two basic types of policies: Lender's title insurance (loan policy) and ALTA Owner's policy of title insurance (Standard). The loan policy ensures the amount of the mortgaged debt and protects the lender's interest in the property. The owner's policy is issued in the amount of the real estate purchase and protects the owner and his/her heirs forever.

Owner's title insurance protects you against what you don't know. It protects property owners against human errors of lawyers, surveyors, and others that may cause the owner financial loss. It also provides legal defense to property owners in all legal acts or proceedings alleging the title to be other than insured.

How much does it cost? All title insurance rates in Ohio are the same. The one-time premium is directly related to the value of your home. Typically, it is less expensive than your annual auto insurance! It is a one-time-only expense, paid when you purchase your home.