Comparison of The Homeowner's Policy with standard owner's title insurance
| Homeowner's Policy | Standard Owner's Policy | |
| Availability | Residential one-to-four family dwelling units
only
At purchase only |
All real property
Any time through sale of property |
| Premium | 20% over standard premium | Standard premium |
| Survey Requirement | No survey required | No survey required (policy may take exception to matters that would be disclosed by a current survey) |
| Special Requirement |
Seller's affidavit required concerning: a. street address b. violations of land use regulations c. encroachments d. building permits e. standard matters |
Seller's affidavit required concerning standard matters only (labor/materials, possession, marital status) |
| Coverage Amount | Automatically increases 10% each year up to 150% of original amount | no automatic increase in coverage |
| Covered Risks |
Standard coverages Violations of land use regulations, subject to deductible and maximum Matters arising after effective date of policy Actual vehicular and pedestrian access Violations of covenants and restrictions Damage to existing improvements due to the exercise of mineral or water rights |
Standard coverages
Land use regulations excluded Matters arising after effective date excluded Legal right of access only Exception for covenants and restrictions Exception for mineral or water rights |
Note: This summary comparison is provided for informational purposes only. Refer to the actual policy forms for the covered risks and insuring provisions, exclusions, conditions and stipulations, exceptions, and other terms of each type of policy. For detailed questions or comparison of policy terms, consult an attorney.