Language is important in a title insurance policy. More important than many realize. Indeed, a lot of people fail to carefully read their title policy, which only leads to frustration down the line. In this article, we’re going to talk about some of the difficulties in changing the language of your title insurance policy.
When You can Change the Language in your Title Policy
Many title insurance policy forms are standardized, meaning the language is the same regardless of the company issuing the policy. But there are certain sections that are personalized to the individual being covered by the policy. These include the property description, the exception, and the exclusions. You should always read these areas carefully and ensure you understand everything.
It is essential to have a good understanding of your title insurance policy and coverage before you accept and sign the policy. You should never assume that you can change the language of your title policy after it’s been issued, as this can be very difficult. Depending on your situation, it may be possible to purchase additional coverage, but don’t go in with this assumption. If you are confused by your policy, ask questions of your title company before you sign on the dotted line.
Underwriting Title Insurance for Commercial Transactions
At Commercial Partners Title Insurance, we have been underwriting title insurance for our clients for decades. With partners across the United States, we are recognized as experts in commercial transactions. Our team of underwriters, title closers, and attorneys can guide you through the entire process, advising you and answering your questions along the way. Reach out to us today to learn more about commercial title insurance and discuss the details of your specific transaction. You can find us at our offices in downtown Minneapolis.