Lender's Policy vs Buyer's Policy
Title insurance comes in two main forms: lender's policies and buyer's policies. While similar, these two policies offer distinctly different services for the parties they serve. If you're planning on buying a Lake of the Ozarks home in 2015, it's important that you know the difference between these policies. Lucky for you, Arrowhead Title, Inc. is here to help! Owner's Policy In the world of title insurance, the owner's policy essentially protects you, the owner of the property, from unforeseen issues down the road. Owner's Title Insurance is purchased at closing for a one-time fee. After this upfront payment, both you and your heirs will be protected from any problems that may arise in the future for as long as you or your heirs and an interest in the property. The best part? If/when a situation arises that requires the protection of your owner's policy, those issues will be handled at no additional cost to you. Owner's policies o...