arrowHome arrow About Title Insurance arrow FAQ arrow Why are two policies needed? Isn't this a duplication of coverage? Friday, 21 November 2008  




 
 
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Why are two policies needed? Isn't this a duplication of coverage? Print E-mail
The Owner's Policy insures the owner up to the full purchase price of the property for as long as he or his heirs own the property. The Mortgagee's Policy insures that the lender has a valid lien on the property up to the unpaid balance of the loan. The hazards may be the same, but the "insured party"... and the coverage amount... is different with each type of policy.
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