Title Insurance 101

What Is Title Insurance?

Title insurance provides protection against financial loss which could result from title defects or claims against your property.


  1. The Owner Policy, which provides protection to the homeowner and the homeowner's heirs.
  2. The Mortgagee Policy which offers protection to the mortgagee (lender) and its assigns.

These two policies are separate and distinct. If the lender requires title insurance (which is usually paid for by the buyer), it is the lender who is insured and not the owner. If the owner wishes title insurance, a separate policy must be purchased. The new owner can, however, reduce the cost by purchasing the two policies simultaneously. For example, when an owner policy is purchased from CATIC, there is no additional charge for a standard policy insuring the lender's interest provided it does not exceed the amount of the owner's coverage.

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