Expanded Owner’s Policy vs Standard Owner’s Policy

The expanded policy of title insurance provides the highest level of protection available to homeowners. The policy expands coverage to include a number of risks that are not insured under the standard policy. That coverage includes such things as actual vehicular and pedestrian access rather than just the legal right of access, coverage for zoning , subdivision or restriction violations that are not known prior to closing, coverage for encroachments that are not identified prior to closing, and some post-policy coverages for forged documents, encroachments by neighbors and prescriptive easements.

The Expanded Policy also provides inflationary coverage which could increase the value of policy coverage beyond the dollar value of the initial purchase as the value of the home inflates, subject to certain limitations. The expanded policies are available on all existing one-to-four family homes, including condominiums, and premiums are generally only 10% above the premium for a standard policy. Greater protection at a reasonable price! Attached PDF.