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What is the difference between basic and enhanced coverage for a title insurance policy?
Hylton88
There is quite a bit more of additional coverage when purchasing the enhanced title insurance policy over the basic policy. See Below (There could be State Specific guidelines in addition to the list below)
Basic Title Insurance Coverage:
- A third party claims interest in title
- Improperly executed document
- Pre-policy forgery, fraud or duress
- Defective recording of documents
- Undisclosed restrictive covenants
- A lien on your title because:
- a security deed
- judgment, tax, special assessment or
- a charge by a home owner's association
- Unmarketable title
Enhanced Coverage (covers all of the above and these additional Items)
- Mechanics' liens
- Forced removal of structure because:
- it encroaches onto another property or an easement
- it violates an existing zoning law*
- of violations of a restriction in Schedule B
- Land cannot be used for a Single Family Dwelling (SFD) because use violates a restriction in Schedule B or a zoning ordinance.
- Unrecorded easements
- Pays rent for substitute land or facilities
- Rights under unrecorded leases
- Plain language
- Building permit violations*
- Compliance with Subdivision Map Act, if any*
- Restrictive covenant violations
- Discriminatory covenants
- Covenant violation resulting in reversion
- Violations of building setbacks
- Enhanced marketability
- Access - Enhanced vehicular and pedestrian access
- Map, if any, not consistent with legal description
- Post-policy forgery
- Post-policy encroachment
- Post-policy damage from minerals or water extraction
- Post-policy living Trust Coverage for Trustee
- Post-policy living Trust Coverage for Beneficiary
- Post-policy automatic increase in value up to 150%
- Post-policy adverse possession
- Post-policy cloud on title
- Post-policy prescriptive easement
- Boundary walls and fence encroachment*
- Insurance coverage forever
* Subject to a deductible and maximum indemnity liability, which may be less than the policy amount.
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