- Unlike homeowners insurance, title insurance is a one-time fee paid at closing
- Provides more protection to buyer by including protection of the total purchase price
- Offers security in ownership
- Assists in a quick transfer of the property
- Guarantees payment of legal costs to defend your title and payment of all covered, successful claims up to the face amount of the policy
- Although not required, an Owner’s policy is highly suggested because lenders are often given coverage that owners are not. In addition, a lender’s coverage terminates when the loan is paid in full, so an owner’s policy would provide coverage throughout the duration of ownership.
North Carolina property owners benefit from a “Simultaneous Issue Rate,” which applies when a lender’s policy is requested at the same time an owner’s policy is ordered. This rate is included in the owner’s policy premium at no additional charge.
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