Standard vs. Enhanced Title Insurance
For example, a “standard” title insurance policy covers the homeowner for matters affecting title up to and including the date of the recordation of the Deed. Whereas the “enhanced” policy provides coverage for 28 additional risks. Many of them pertaining to future coverage and automatic increases of coverage to cover increases in the value of property.
Well Worth The Cost
Although the enhanced policy premium is 10% higher than the standard policy premium, in reality, it’s a minimal cost to the homeowner. The ability to substantially reduce their risk and exposure on one of the largest investments they will make is well worth choosing enhanced over standard. For example, the difference in the standard premium and enhanced premium for a $250,000 house is approximately $225 dollars; a $500,000 house is approximately $425. In addition, a $750,000 house is approximately $562; and a $1,000,000 house is approximately $750. Click here for our rate calculator.
Contact Us Today
If you would like further information on the difference between standard and enhanced title insurance coverage, please feel free to contact Pride Abstract and Settlement Services at 800-700-7118.