Title Insurance
Title insurance protects you if someone later challenges who owns a property, or if a problem was missed in the search. You pay for it once, at closing.
A title commitment and a pen on a desk in the Cornerstone office. Hands optional, no faces.
Owner's and lender's policies, explained.
Most closings involve two separate policies. They protect different people.
Owner's policy
Protects the buyer. It covers your ownership of the property against covered title problems that existed before you bought. It stays in place for as long as you or your heirs own the property.
Lender's policy
Protects the lender. It covers the lender's mortgage loan, and lenders usually require it. It does not protect you as the owner, and it ends when the loan is paid off.
Who it is for
Buyers, lenders, and owners refinancing a mortgage.
What Cornerstone does
- Explain the policies and the choices you have, in plain words.
- Order the title search and prepare the commitment.
- Issue owner's and lender's policies through Old Republic National Title Insurance Company, Stewart Title or First American Title Insurance Company.
- Walk you through the exceptions and exclusions listed in the policy, so you know what is and is not covered.
What you need to bring or do
- Tell us early whether you want an owner's policy.
- Read the title commitment and ask about anything that looks unfamiliar.
- Tell us about any problems you already know of, such as a boundary dispute or an unpaid contractor.
Why every agency's premium looks the same in Ohio.
In Ohio, title insurance premiums are filed with and approved by the state. Because of that, the premium for the same policy is nearly identical from one agency to the next.
So we will not tell you we are cheaper. A comparison of premiums will not tell you much.
What does differ is the service you get: who answers the phone, how your questions are handled, and whether attorneys are nearby when a problem comes up.
Other fees on your settlement statement, such as closing fees, can differ from one agency to another. Ask for a full list of fees up front.
Read more: how Ohio title insurance pricing really worksWant a policy explained?
Ask us anything about owner's or lender's coverage. We will go through it with you.