10/11/17
Idaho Owner’s Policy – Silver, Gold, Platinum Coverage
To make shopping for an Owner’s Title Insurance Policy easier, our plans are divided into three tiers: Silver, Gold and Platinum. With each tier comes greater peace of mind.
Here’s a quick overview of the three owner’s policy tiers…
Silver – Standard Coverage Owner’s Policy
-Extends protection based on a search of recorded documents and real estate tax records only. -The policy, subject to its exclusions, conditions, stipulations and exceptions, insures that:
- The title is vested as shown
- There are no defects in or liens or encumbrances on the title
- The title is marketable and that there is a right of access to and from the land
Gold – Standard Coverage Owner’s Policy + Homeowner’s Expanded Coverage Endorsement (HECE)
A Homeowner’s Expanded Coverage Endorsement to a Standard Owner’s Title Policy (Silver) will extend protection for:
-Any unrecorded labor or material liens
-Forced removal of the residence due to:
- Zoning violations
- Encroachments on an easement or other land
Platinum – Expanded Coverage Owner’s Policy
-Includes the protection afforded in the Standard Owner’s Policy (Silver) and
-It extends protection to the insured for: w Rights or claims of parties in possession not shown by the public records
- Encroachments, overlaps and boundary line disputes
- Easements, or claim of easements, not shown of public records
- Any lien, or right to lien, for services, labor, or materials imposed by law and not shown of public record
-Provides for coverage for forced removal due to:*
- Zoning violations
- Encroachments
- Lack of access
-Provides for post-closing coverage for some title defects resulting from:*
- Forgeries
- Easements w Mineral extractions
- Discriminatory covenants or encroachments
-Provides coverage for appreciated home value of the home:*
- Up to 10% per year, 5 years max
- Extends to heirs & beneficiaries
For more detailed pricing information, contact your local Alliance office and check out our coverage comparison chart here: https://www.alliancetitle.com/buyer-seller-services/comparison-of-coverage