Why is the title insurance premium on the Loan Estimate and Closing Disclosure different from the premium listed on the paperwork I received from the title insurance company? Am I being charged more?

You’re not necessarily being charged more if the amounts on your loan forms are different from your title insurance paperwork. Depending on the state where you are buying your home, you may get an itemized list of fees from Acrisure National Lender Services at closing. The itemized list of fees required under state law may be displayed differently than the same fees on the Loan Estimate or on the Closing Disclosure. That does not necessarily mean you are being charged more. If you add up all the title-related costs that Acrisure National Lender Services gives you, it should match the totals of all the title-related costs you see on the Loan Estimate or on the Closing Disclosure. When comparing costs for title insurance, make sure to compare the bottom line total.

What title insurance protects against
Here are just a few of the most common hidden risks that can cause a loss of title or create an encumbrance on title:

  • False impersonation of the true owner of the property
  • Forged deed, releases or wills, Instruments executed under invalid or expired power of attorney;
  • Undisclosed or missing heirs; Mistakes in recording legal documents
  • Misinterpretations of wills Deeds by persons of unsound mind
  • Deeds by minors
  • Deeds by persons supposedly single, but in fact married
  • Fraud
  • Liens for unpaid estate, inheritance, income or gift taxes

What protection does title insurance provide against defects and hidden risks?
Title insurance will pay for defending against any lawsuit attacking your title as insured, and will either clear up title problems or pay the insured’s losses. For a one-time premium, an owner’s title insurance policy remains in effect as long as you, or your heirs, retain an interest in the property.

What this means to you
The peace of mind in knowing that the investment you’ve made in your home is a safe one.

Providing the Best to Homeowners

Homeowners depend upon the strength and stability of a reputable title insurer to back their policies for years to come. Our underwriter Fidelity National Title has a long and proud history of providing homeowners with the most innovative title and escrow products in the industry.

With Acrisure National Lender Services, homeowners can enjoy peace of mind knowing they are insured by one of the industry’s premier title insurers. And with the Homeowner’s Policy, they’ll enjoy even more peace of mind knowing they have the best title policy available.

Superior All-Inclusive Benefits from the Homeowner’s Policy
This superior policy gives your clients the most thorough and comprehensive coverage available in the industry.

The new Homeowner’s Policy includes the following basic coverage:

  • False impersonation of the true owner of the property
  • Forged deeds, releases or wills
  • Undisclosed or missing heirs
  • Instruments executed under invalid or expired power of attorney
  • Mistakes in recording legal documents
  • Misinterpretation of wills
  • Deeds by minors
  • Deeds by persons supposedly single, but in fact married
  • Liens for unpaid estate, inheritance, income or gift taxes
  • Fraud

The Homeowner’s Policy also Provides the Following Additional Benefits

  • Pre and Post Policy Protections: The Homeowner’s Policy coverage protects homeowners against claims arising both before and after the policy date. The homeowner is covered if someone else has an interest in or claims to have rights affecting the title, or the title is defective. Post-policy protection also includes coverage for forgery, impersonation, easements, use limitations and structural encroachments built by neighbors (except for boundary walls or fences) after the policy date.
  • Expanded Access Coverage: The Homeowner’s Policy provides homeowners with expanded access protection for right of access to and from the property. Traditional title policies do not define the type of access a homeowner has to the property, but the Homeowner’s Policy specifically insures both actual pedestrian and vehicular access, based upon a legal right.
  • Restrictive Covenant Violations: The Homeowner’s Policy protects homeowners against the loss of title to property because of a violation of a restrictive covenant that occurred before the insured acquired title.
  • Building Permit Violations: The Homeowner’s Policy covers homeowners if they must remove or remedy an existing structure (except for boundary walls and fences) because it was built without a building permit from the proper government office. This coverage is subject to deductible amounts and maximum limits of liability.
  • Subdivision Law Violations: The Homeowner’s Policy protects homeowners if they can’t sell the property or get a building permit because of a violation of an existing subdivision law. Homeowners are also protected if they are forced to correct or remove the violation. This coverage is subject to a policy deductible and maximum limits of liability.
  • Zoning Law Violations: The Homeowner’s Policy protects homeowners if they must remove or remedy existing zoning laws or regulations (subject to the policy deductible and maximum limit of liability). Homeowners are also protected if they can’t use the land for a single-family residence due to the way the land is zoned.
  • Encroachment Protections: Covers homeowners if forced to remove an existing structure because it encroaches on a neighbor’s land (coverage for encroachments of boundary walls or fences is subject to policy deductible and maximum limit of liability). Covers homeowners when someone else has a legal right to, and does, refuse to perform a contract to purchase the homeowner’s land, lease it or make a mortgage loan on it because a neighbor’s existing structures encroach onto the land.
  • Water and Mineral Rights Damage: The Homeowner’s Policy provides coverage if a homeowner’s existing improvements, including lawns, shrubbery and trees, are damaged because someone exercised a right to use the surface of the land for the extraction of minerals or water.
  • Supplemental Tax Lien: The Homeowner’s Policy protects homeowners if a supplemental tax lien is filed and assessed against the property because of new construction or a change of ownership prior to the policy date.
  • Map Inconsistencies: The Homeowner’s Policy provides coverage if the map attached to the homeowner’s policy does not show the correct location of the land, according to public records.
  • Continuous Coverage: The Homeowner’s Policy covers homeowners forever, even if they no longer have the title. The policy insures anyone who inherits the title because of the homeowner’s death and the spouse who receives the title after a dissolution of marriage. The Homeowner’s Policy also allows homeowners to transfer title to their home into a trust after the policy date and receive uninterrupted coverage, at no extra cost.
  • Value-Added Protection: Traditional title policies don’t increase their coverage as the value of a home increases. Not so with the Homeowner’s Policy. The policy amount automatically increases by ten percent per year for five years, up to 150% over the original policy amount. This automatic increase in coverage is included at no extra cost.