Personal Liability Insurance Important Considerations

The basic coverage for personal liability in standard homeowners, rental, and auto insurance policies often will not cover high losses of court awarded damages. Additional personal liability insurance will add a higher level of protection. This additional policy forms an umbrella because it covers protection above and beyond standard homeowners and auto policies. Additional costs…

The basic coverage for personal liability in standard homeowners, rental, and auto insurance policies often will not cover high losses of court awarded damages. Additional personal liability insurance will add a higher level of protection. This additional policy forms an umbrella because it covers protection above and beyond standard homeowners and auto policies.

Additional costs will vary with insurance companies, but usually average from $ 200 to $ 300 a year for additional protection of 1 million dollars. This coverage may insure automobiles, boats, homeowners, and renters insurance. Most insurance companies require basic insurance of $ 100,000.

The insured should ask the following questions:

1. How much do I have to lose?

2. What is the monetary total of my assets?

3. How much would legal fees cost me?

4. Are umbrella personal liability policies which cover one million dollars or more worth the extra premiums? Most insurance advisors recommend that they are.

Rate yourself and your family:

Are you careless?

Do you own a pool or an active recreation room?

Do other people work in your home?

Have accidents occurred in your home?

Add to this list of possible personal hazards.

If you answered yes to any question, you need additional protection of the umbrella liability insurance policy. Do not forget to buy additional auto insurance.

Study liability insurance on the internet or consult your insurance needs with a reliable agent. The internet has many clear, illustrated paragraphs of available types of policies. Individuals may study thousands of agents and companies, have questions answered, and purchase all types of insurance policies online from the leading insurance companies of the world.

Do not risk future financial disaster because you failed to act by saying, “It can not happen to me. I do not need extra coverage.” The coffee table in your living room that you gingerly step around could cause a house guest to topple over. Another friend on an overnight stay slips on the staircase as she is on the way to the kitchen to get a cup of warm milk. These people might not be injured, but it is possible.

If anyone has an accident in your home or on your grounds, they could be severely injured. That is when you are in dire need of a personal umbrella policy. The insured needs to evaluate all possible situations that could lead to a major loss.

Remember personal liability insurance does not cover any business whether it is operated in the home or at an independent location. They are separate entities. The insured needs business insurance to cover any losses. Umbrella policies are available to cover the insured's business.

If you still have doubts, get assistance from a certified public accountant who does not make a commission on insurance sales, but charges for the office visit and the advice. Also, and very important, take the time to read every word of your policy, and if you do not understand it: ASK QUESTIONS.

Protect Your Personal Property With Home Contents Insurance

It would surprise you to know how many homes have all the latest in technological gadgetry, yet have failed to insure the contents of their home against the event of either a burglary or damage. If you want to protect your personal property, you need to be insuring your personal property with a home contents…

It would surprise you to know how many homes have all the latest in technological gadgetry, yet have failed to insure the contents of their home against the event of either a burglary or damage. If you want to protect your personal property, you need to be insuring your personal property with a home contents insurance.

What To Insure

You can arrange to insure any (or all) of the contents of your home under a home contents insurance policy. Neverheless, if you have any personal belongings in your home over a certain £ value, then you should be discussing these with your home contents insurance provider – as in most cases property over a certain value needs to be declared independently (and, in certain cases , such as with expensive diamond engagement rings, they may need to be insured independently).

Itemise Your Possessions

Once you have decided that you want to purchase home contents insurance you need to take an inventory of your home, itemizing all of the possessions in the home. A really good tip here is not to move all of your possession into one room and then itemize them, but to go from room to room doing this. This way, your inventory will be broken-down into rooms, should damage or theft occur only to a part of the home. Better yet, you should try to walk through your home with a video camera videoing all of the possessions in that room. You can then keep a copy of the video with the inventory. However, if you do not have a video camera, still-camera photographs of your possessions is better than taking no photographic evidence at all.

How To Value Your Possessions

It is vital that you remember that home contents insurance is insurance against the replacement value of the item that was lost, stolen or damaged. It does not take into consideration any nostalgic value. Therefore, if you have expensive personal property in your home, you should arrange to have these independently valued – preferably by an insurance approved valuer – and a copy of the valuation receipt should be kept with the insurance policy. The value of the other items in your home can either be estimated by the price it cost you to purchase them; Egypt, better, by taking a trip down to the local shops and seeing how much each of the items would cost you to buy – as this is the amount you'll be paid if the item is lost / damaged.

How To Arrange The Home Contents Insurance

Once you have valued and itemized the possessions you want to insure you can then log onto the internet and get some online home contents insurance quotes based on the value and possessions you want to have insured under the insurance policy.

What Will The Insurance Premium Cover

Ordinarily the insurance policy will cover you in the event that the possession insured is lost, stolen or damaged. Damage in this case can be the cause of a natural event, such as a bad storm or flooding, or a because of a boiler bursting. You should also read your policy carefully, as some home contents insurance policies cover items which are lost outside of the home – for example, if you are transporting them in the car.

Medical Bills – Evaluating Your Personal Injury Insurance Claim

The value of a personal injury claim has a direct relationship to the amount of your medical bills. Why? Because a claim with medical bills of $ 500.00 is worth three to five times more than a claim with $ 100.00, or less. And that's a fact of life in the world of insurance claims.…

The value of a personal injury claim has a direct relationship to the amount of your medical bills. Why? Because a claim with medical bills of $ 500.00 is worth three to five times more than a claim with $ 100.00, or less. And that's a fact of life in the world of insurance claims.

The adjuster will reason if you were hurt badly enough to run up $ 500.00 in medical expenses than it's correct to assume that your injuries must be substantial. But, if you see your chiropractor or physician only once or twice, and your final bills are in the vicity of $ 100.00, that adjuster will assume you were not hurt too seriously.

DEMAND THAT ALL YOUR MEDICAL BILLS BE PAID: The adjuster may try to disallow a substantial part of your total medical expenses which he contends does not qualify as “medical” in character. He 'll often attempt to divide your medical costs into two arbitrary parts – – “Diagnostic” and “Treatment”. In the “Diagnostic” category he'll include such items as ambulance and emergency room costs, costs of X-rays, and other diagnostic procedures, plus visits to specialists. And the rest (mainly costs of the hospital and regular office visits to doctors, physical therapy and medication) will be termed “Treatment”. The items that are categorized as “Diagnostic” expenses are the bills the adjuster would like to disallow as not being “Medical” types of activities.

He may try to do this because with a differentiation (between what is “Diagnostic” and what is supposedly true medical “Treatment”) the basic worth of your claim will have been drastically reduced, as the amount of your “Special Damages” and thus drastically reduce the true value of your claim. At that point the adjuster will argue that the “Treatment” portion of your medical bills that's “directly related” to the severity of your injury, therefore it's what really reflects (and measures) your “Pain and Suffering”.

Do not let him get away with that! If he should attempt to pull this on you tell him, “It's absurd and illogical to separate medical expenses into two arbitrary categories and design one as” Diagnostic “and the other as” Treatment. “Each area works hand-in-hand with the other in medical practice. I can not get properly treated without being diagnosed!

He'll gulp, because he knows what you say is true and that will usually be the end of such nonsense on his part.

“PERMANENT” AND / OR “TEMPORARY” DISABILITY: In discussing “Disability”. it's important to develop a working knowledge of these two legitimate concepts. Commonly, personal injuries are classified as either “Permanent” or “Temporary”. These two terms are used basically to describe the anticipated duration of an injury, and not its degree of severity! Thus, if an injury is conceivable as one which would continue through the reminder of an individuals lifetime, it's said to be “Permanent” in nature. Conversely, if it's a reasonably probable that the claimant will attain a full or complete recovery (within some future period) the injury is classified as “Temporary” – – regardless of how severe or extensive the injury might otherwise appear.

TOTAL AND / OR PARTIAL DISABILITY: Another common classification of “Disabilities” will relate to whether they are considered to be “Total” or “Partial”. These terms refer to the actual extent of the claimant's injuries, regardless of whether they're permanent or temporary in duration.

THE FOLLOWING FOUR SPECIAL CATEGORIES

ARE REFERRED TO AND UTILIZED IN PERSONAL INJURY LITIGATION

  1. TEMPORARY TOTAL DISABILITY: This is symbolized by a seriously injured person who is temporarily hospitalized or otherwise completely defective, although expected to eventually regain full function.
  2. TEMPORARY PARTIAL DISABILITY: This is that period when, following the initial period of complete impairment of the seriously injured party (that period of “Temporary Total Disability”), the party recovers and is able to resume some (but not all) formal activities.
  3. PERMANENT TOTAL DISABILITY: This describes a condition (usually applicable in the most sever cases, in which the injury produces a nearly total impairment to the body as a whole) – – again placing the emphasis both on depreciation and its duration .
  4. PERMANENT PARTIAL DISABILITY: This describes a condition where the injured party, (even after sustaining a permanent injury) still retains some fundamental body function or awareness capacity, with the emphasis centered on the extent of the functional impairment itself.

MEDICAL BILL COVERAGE'S: Read your Motor Vehicle Policy to discover if you have “Medical Payments Coverage”. Also check all your non-automobile insurance policies. You may have coverage (s) to pay your medical bills regardless of who was at fault. If you have a Health Insurance Policy and / or Health Plan of some sort, read the fine print. Your policy may not require you to pay back the medical bill payments made in your behalf – – even if you collect from the person who stuck you!

DISCLAIMER: This article ~ Medical Bills ~ Evaluating Your Insurance Claim, is intended for background information. Its only purpose is to help people understand the motor vehicle accident claim process. Neither Dan Baldyga, Peter Go nor ARTICLE CITY make no guarantee of any kind whatever, NOR DO THEY purport to engage in rendering any professional or legal service, NOR TO substitute for a lawyer, an insurance adjuster, or claims consultant, or the like. Where such professional help is desired IT IS THE INDIVIDUALS RESPONSIBILITY to obtain it!

For more “How To” insurance claim insights read Dan Baldygas latest book AUTO ACCIDENT PERSONAL INJURY INSURANCE CLAIM (How To Evaluate And Settle Your Loss). This book can be found on the internet at http://www.autoaccidentclaims.com . This book reveals “How To” successfully handle your motor vehicle accident claim, so you will not be taken advantage of. It also goes into detail regarding the revolutionary BASE (The Baldyga Auto Accident Settlement Evaluation Formula). BASE explains how to determine the value of the “Pain and Suffering” you endured – – because of your personal injury.

Copyright (c) 2003 By Daniel G. Baldyga. All Rights Reserved

Dan Baldyga – Author

19 Winona Drive, West Springfield, MA 01089

Phone: (413) 733 0127 FAX: (413) 731 8358

Mail to: dbpaw@attbi.com

AUTO ACCIDENT PERSONAL INJURY INSURANCE CLAIM

(How To Evaluate And Settle Your Loss)

Found On The Internet At: http://www.autoaccidentclaims.com

Or: http://www.caraccidentclaims.com

Is Your Personal Property Under-Insured?

According to Marshall & Swift / Boeckh, a whooping 64% of homes in America are under-insured. With the many recent natural disasters, many people are finding out exactly how much their insurance policy will cover. Unfortunately, some have found out too late that their coverage is insufficient. What can you do? 1) Take Responsibility First,…

According to Marshall & Swift / Boeckh, a whooping 64% of homes in America are under-insured. With the many recent natural disasters, many people are finding out exactly how much their insurance policy will cover. Unfortunately, some have found out too late that their coverage is insufficient.

What can you do?

1) Take Responsibility

First, recognize that protecting your home and personal belongings is your responsibility. While your insurance agent is there to help, it is absolutely up to you to purchase adequate coverage.

2) Inventory your home and belongings

Before you can make a decision about how much insurance is right for your situation, you must know how much your home and belongings are worth. Here's where it helps to use a simple home inventory software program to track the value of your home plus all of your belongings. Look for one with a report which you can print out listing your personal
assets grouped by category with subtotals.

3) Review and update your policy

Now that you know how much and what you're trying to protect, it's time to review and update your policy. Compare the value of your actual belongings with the coverage in your policy. Pay special attention to limitations for specific categories of personal property, and do not hesitate to call your agent for clarification. In fact, now would be a good time to print out a copy of your home inventory report, and schedule time with your agent to review your policy and current status.

Your Personal Injury Insurance Claim: Several Crucial Insights Into Medical Reimbursements

The best judge of Total Disability and / or Partial Disability is “Ole” Doc Comfort your attending physician. The Medical Report he executes for the insurance company you're battling with, Rock Solid Insurance Corporation, should always contain his comments regarding the nature of your disability. His diagnosis will be crucial to IM Smart, the adjuster…

The best judge of Total Disability and / or Partial Disability is “Ole” Doc Comfort your attending physician. The Medical Report he executes for the insurance company you're battling with, Rock Solid Insurance Corporation, should always contain his comments regarding the nature of your disability. His diagnosis will be crucial to IM Smart, the adjuster assigned to handle your claim, because it will detail the duration of your “Pain and Suffering”. In addition it will also prove the time you lost from work as being legitimate.

When settlement time arrives, Smart will form a healthy portion of its assessment based on the documented proof of the length of time of each of the following two elements: “Total” and “Partial” disability – – the both of which will indicate how much they restricted your inability to work and also your social activities.

YOU MUST CONSIDER ALL THE POSSIBLE OPTIONS FOR MEDICAL REIMBURSEMENTS: Be aware that you may be able to collect from your own motor vehicle insurance carrier (via your “Medical
Payments “coverage) plus you may also be able to collect from your own health insurance policy or plan.

Yes, Rock Solid Insurance, in a clear case of liability (and as part of its settlement with you) will pay your medical bills. BUT HOW ABOUT YOUR OWN MOTOR VEHICLE POLICY'S MEDICAL PAYMENTS COVERAGE? You must read your motor vehicle accident policy carefully. It may provide you with coverage up to certain limits (one or two thousand dollars – – some a lot higher) for all the medical bills you had as a result of the accident – – regardless of who was at fault!

“Med Pay” is a separate part of your policy, which you pay extra for, but it's definitely worth it. Since you're shelling out money for this extra coverage you should consider taking advantage of what it offers.

The following people are usually covered under the Med-Pay provisions: You or any relative who lives with you (when driving or riding in your vehicle) plus anyone else who is driving with your permission (and also their invited “guests”) who happened to be riding along with them in your car.

It may state in your policy that your insurance company has a right to recover the amount of the Medical Payments made to you should you (later-on-down-that-often-very-loooong-rocky-road) get paid for your loss by Rock Solid. But, even if you do not, you'll still be paid for your medical bills under the Medical Payments (Med-Pay) Coverage of your motor vehicle insurance policy without having to pay your insurance company back.

It's typically a practical move, to elect to file a claim with your own auto insurance company (under the Med-Pay Coverage) so you can be confident all your medical bills are paid in time. Otherwise, your medical providers may get upset because they'll have to wait far too long to be paid (somewhere down the line – – sometimes a year – – sometimes much longer) until you finally settle for your loss with The Rock Solid Insurance Corporation .

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YOUR OWN HEALTH INSURANCE POLICY / PLAN: There's another possible medical bill coverage for your accident – – and that's your Health Insurance policy or whatever Health Plan you may be under. If the Med-Pay provisions of your motor vehicle policy state that they must be paid back, should you collect from Rock Solid, you may find it more advantageous to file a claim under your Health Insurance policy or some other Health Plan. HOWEVER: You should check the words in those policies very closely because they may NOT require you to pay them back for the medical payments – if even you collect for your loss from The Rock Solid Insurance Corporation!

There's nothing wrong or immoral about collecting money from more than one source for the same medical bills. Think of it like a Life Insurance Policy. If an individual is paying premiums for three $ 10.000 Life Insurance Policies and they pass away, is the love-of-their-life (as the named beneficiary) entitled to $ 10,000 or $ 30,000? Indeed, because the premiums were paid on all three, that individual is entitled to a payment of $ 10,000 times three, or $ 30,000.

By the way, if Adjuster Smart happens to ask you if you have any options, do not tell him. Whatever other insurance coverage's you have is your own business! It has absolutely nothing to do with the value of your claim, how much money you should be paid for your “Pain and Suffering”, nor any other portion of your loss.

NEVER FORGET: You've already paid for these types of coverage and you're entitled to be paid under all your options for reimbursements – – even if that means you're paid by multiple sources for the same bills!

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DISCLAIMER: The only purpose of this article ~ YOUR PERSONAL INJURY INSURANCE CLAIM ~ SEVERAL CRUCIAL SOME “INSIGHTS” INTO MEDICAL REIMBURSEMENTS is to help people understand the motor vehicle accident claim process. Dan Baldyga makes no guarantee of any kind whatever; NOR does he purport to engage in rendering any professional or legal service; NOR to substitute for a lawyer, an insurance adjuster, or claims consultant, or the like. Wherever such professional help is desired it is THE INDIVIDUALS RESPONSIBILITY to obtain said services.

Copyright (c) 2005 By Daniel G. Baldyga. All Rights Reserved

Scooter Lift

The scooter lift is an invention that enables elderly and handicapped individuals to enjoy further independence. Loss of mobility has made it increasingly difficult for them to move around; the use of mobility scooters has given them a large degree of independence, and a scooter lift helps them to take their independence around with them…

The scooter lift is an invention that enables elderly and handicapped individuals to enjoy further independence. Loss of mobility has made it increasingly difficult for them to move around; the use of mobility scooters has given them a large degree of independence, and a scooter lift helps them to take their independence around with them at home or on vehicles when traveling.

Buying a scooter lift should be looked upon as a long-term investment for these individuals. It is there before important to appreciate the positive influence that the right scooter lift can have on such people and their families. The selection of an appropriate scooter lift is an essential part in achieving this objective.

For transporting a scooter, the lift can be attached behind a vehicle, a mobile home or a trailer for holding and carrying their mobility scooters with complete ease. This lift has the capacity to raise the scooter and to manoeuvre it into the correct position for the journey. A further advantage is that with a scooter lift, the mobility scooter being transported can be held in place outside the vehicle allowing more interior space for luggage and other accessories.

Scooter lifts are available in various makes and models with a large range of features. They do not weigh too much but can lift, hold and carry approximately 300 pounds of weight. They are affordable, easy to use and easy to maintain and clean. When not in use, scooter lifts can be disassembled for easy storage. Their dimensions vary according to the model being purchased; platform and jack-type models are available.

Most models offer steel construction, a protective coating finish, twelve volt DC motor with optional battery pack. Easy-to-use controls allow safe, simple and reliable operation. They are designed to provide ease of mobility and accessibility for the difficulties experienced by the disabled and elderly in their daily lives.

Unemployment Insurance Fraud

If you lose your job due to accident or injury, quite often your company's disability policy is not enough. The state and federal governments do offer some temporary compensation to help with job loss but what happens when it runs out. This is where unemployment insurance comes in tender. Many are looking to private companies…

If you lose your job due to accident or injury, quite often your company's disability policy is not enough. The state and federal governments do offer some temporary compensation to help with job loss but what happens when it runs out. This is where unemployment insurance comes in tender.

Many are looking to private companies to top up what the government or their employers currently offer. However, with the growing number of unemployment insurance policies being sold, there are unfortunately a growing number of fraudulent insurance policies on the market.

Fraud can mean someone telling a little white lie to extend their benefit or it can be very serious and include actual bogus policies being sold.

Fraudulent insurance policies are widespread throughout the insurance industry and the cost is overwhelming. Many who think they can depend on their policies suddenly find they have to use their life savings just to cover expenses. Sometimes homes and other valued possessions are lost when there are no savings to help them survive.

Insurance companies and those who sell fraudulent policies realize it will likely be some time before you actually collect on your policy. This makes it very easy for them to take your money and run. By the time you actually claim on your policy they are long gone.

When purchasing unemployment insurance take the following advice. If you see a company advertising on line, make sure they have a fixed address and phone number. If they have none of these then do not purchase from them. This company could be here today and gone tomorrow. Do not give any personal details over the internet. Once they have your account numbers they can do more more damage than a fake insurance policy. See if this company is registered in your state, if not then do not purchase anything from them. Finally, it is best to purchase policies from large companies. They may be more expensive but their reputations are sound.

Vacant Property Insurance

It can be a difficult task to obtain the insurance coverage that you require for an vacant property that you currently have in your possession. This is due to the fact that insurance providers have the opinion that there is a greater risk to be taken when insuring an vacant property and that these properties…

It can be a difficult task to obtain the insurance coverage that you require for an vacant property that you currently have in your possession. This is due to the fact that insurance providers have the opinion that there is a greater risk to be taken when insuring an vacant property and that these properties have a greater need from insurers than the typical occupied property.

There is of course the increased risk of vandalism and the similar when dealing with vacant properties. These properties are subject the vandalism as there is no presence on the property to cur the vandals. They do not have the fear associated with getting caught and as such as not hindered in this action. There is also the problem of throwing the bricks through windows as well as an increased likelihood of fires and general property destruction.

Squatters are another issue on these properties as they can be unoccupied for long periods and the owners can often neglect to keep proper tabs on the property as well. These leads to the squatters having free reign on the property and they may also cause untold damages as well. The damages that occur on unoccupied places are also not quickly detected and as such can lead to the development of the problem into one that is more serious.

Another issue of concern is whether the property is carded to be let in the future. Many insurance providers also run from this situation as it can result in the neglect of the property from the tenants as well. Not everyone is lucky enough to get good tenants that take care of their place as if it was their own.

There are several reasons that vacant property insurance may be required and these include accidents where there has been the death of the previous owner and where the property goes to estate and is on sale. There may also be periods where the property is in the process of a change of ownership, if you are completing repairs and if the property is unsuitable for occupation. You must ensure in these periods that the property is covered specifically by vacant property insurance.

Vacant property insurance providers have to make certain that there is a reduction in the probability of losses occurring on the property that they are thinking of covering. These procedures can include regular inspection of the property, sealing off windows and letterboxes and other types of risk management procedures. In some cases, the coverage provided can be restricted to only some areas. In instances such as this it is essential that the cover is sufficient and handles risks that may be incurred on the property in question otherwise the coverage will not make any sense.

In order to source the right coverage it is possible that you may look on the internet and compare between providers. This will ensure that you attain the best deal possible where you get the best coverage for the lowest premium.

What is Title Insurance?

When buying a home for the first, or even second, time, you know that many considerations will arise in addition to the usual concerns like the mortgage and closing fees. Purchasing insurance is now a factor, and depending on where you live may be faced with taking out policies for home, fire, and flood. However,…

When buying a home for the first, or even second, time, you know that many considerations will arise in addition to the usual concerns like the mortgage and closing fees. Purchasing insurance is now a factor, and depending on where you live may be faced with taking out policies for home, fire, and flood. However, few new home buyers may realize the need for another specific policy, particularly if the home they are buying is not new. Title insurance can prove valuable to the homeowner.

What is Title Insurance?

Simply defined, title insurance protects the homeowner against loss when issues tied to the property's title come into questions. The title is essentially the deed to the property, the legal document that transfers ownership of the home, land, and whatever else is specified therein from one person to another. In an ideal real estate transaction, the seller will sign the title over to the buyer. The document now proclaims that the buyer is now the owner of the property.

It should be a cut and dry process, but in certain situations the title of a property may come into dispute. For example, a home that had been owned over generations – sold to an outsider – may become the object of a legal battle should someone in the family claiming to be the rightful owner decide to challenge the title. Also, it may come to pass that a seller who has no authorization to transfer a title does so anyway – maybe through forgery – thereby committing a fraudulent transaction. The holder of the title may then have to face legal and financial problems that could result in losing the property.

What Title Insurance Does

With title insurance, any possibilities of problems arising from a real estate transaction are smoothed over to allow for a clean sale. Unlike other types of insurance which pay after something happens, title insurance works protects the policy holder from losses contained prior to the policy's release. Issues such as ownership disputes, unpaid taxes or liens are handled and cleared before the sale is final.

What Title Insurance Does Not Do

As mentioned earlier, title insurance differs from policies like car and fire insurance in that it does not cover losses the following after the sale. If someone were to put a lien on your home, the title insurance would not cover any losses since the event happened after the policy was taken out. The insurance only protects you from losses involving the property's previous owner. In turn, should you decide to sell your home, a prospective buyer may take out a policy to protect himself from any issues (ownership, taxes) you have had as a homeowner.

While title insurance is not required for the homeowner, it can be a good investment for those seeking to buy certain properties. When the you consider the possibilities, having title insurance may save you a few headaches as you purchase your new home.

Why You Need Title Insurance

Protecting your Home Investment A home is usually the largest single investment any of us will ever make. When you purchase a home, you will purchase several types of insurance coverage to protect your home and personal property. Homeowner's insurance protects against loss from fire, theft, or wind damage. Flood insurance protects against rising water.…

Protecting your Home Investment

A home is usually the largest single investment any of us will ever make. When you purchase a home, you will purchase several types of insurance coverage to protect your home and personal property. Homeowner's insurance protects against loss from fire, theft, or wind damage. Flood insurance protects against rising water. And a unique coverage known as title insurance protects against hidden title hazards that may threaten your financial investment in your home.

Protecting Your Largest Single Investment

Title insurance is not as well understood as other types of home insurance, but it is just as important. You see, when purchasing a home, instead of purchasing the actual building or land, you are really purchasing the title to the property – the right to occupy and use the space. That title may be limited by rights and claims asserted by others, which may restrict your use and enjoyment of the property and even bring financial loss. Title insurance protects against these types of title hazards.

Other types of insurance that protect your home focus on possible future events and charge an annual premium. On the other hand, title insurance protects against loss from hazards and defects that already exists in the title and is purchased with a one-time premium.

Two Kinds of Title Insurance Benefit You in Two Ways

There are two basic types of title insurance:

  • Lender or mortgagee protection,
  • Owner's coverage.

Most lenders require mortgagee title insurance as security for their investment in real estate, just as they may call for fire insurance and other types of coverage as investor protection. When title insurance is provided, lenders are willing to make mortgage money available in distant locales where they know little about the market.

Owner's title insurance lasts as long as you, the policyholder – or your heirs – has an interest in the insured property. This may even be after you have sold the property.

Depending on local practices and state law where the property is located, you may pay an additional premium for an owner's policy or you may pay a simultaneous issue charge – usually a smaller amount – for the separate lender coverage. You may even split settlement costs with the seller for the lender or owner's policy.

What does Your Premium Really Pay For?

An important part of title insurance is its emphasis on risk elimination before insuring. This gives you, as the policyholder, the best possible chance for avoiding title claim and loss.

Title insuring begins with a search of public land records affecting the real estate concerned. An examination is conducted by the title agent or attorney on behalf of its underwriter to determine whether the property is insurable. The examination of evidence from a search is intended to fully report all “material objections” to the title. Frequently, documents that do not clear transfer title are found in the “chain,” or history that is assembled from the records in a search. Here are some examples of documents that can present concerns:

  • Deeds, wills and trusts that contain improper word or incorrect names;
  • Outstanding mortgages and judgments, or a lien against the property because the seller has not paid his taxes;
  • Easements that allow construction of a road or utility line;
  • Pending legal action against the property that could affect a purchaser; Egypt
  • Incorrect notary acknowledgments.

Through the search and the examination, title problems are disclosed so they can be corrected whenever possible. However, even the most careful preventative work can not locate all hidden title hazards.

Hidden Title Hazards – Your Last Defense

In spite of all the expertise and dedication that go into a title search and examination, hidden hazards can emerge after closing, resulting in unpleasant and costly surprises. Some examples of hazards include:

  • A forged signature on the deed, which would mean no transfer of ownership to you;
  • An unknown heir of a previous owner who is claiming ownership of the property;
  • Instruments executed under an expired or a fabricated power of attorney; Egypt
  • Mistakes in the public records.

Title insurance offers financial protection against these and other covered title hazards. The title insurer will pay for defending against an attack on title as insured, and will either perfect the title or pay valid claims. All for a one-time charge at closing.

Your home is your most important investment. Before you go to closing, ask about your title insurance protection, and be sure to protect your home with an owner's title insurance policy.