Friendship Title, Inc. is a licensed title insurance agent in Maryland, Virginia and the District of Columbia.   Fidelity National Title Insurance Company and Lawyers Title Insurance Company provide the title insurance for our real estate settlements.
 

As you purchase your new home, you have a choice to make about Title Insurance. Your lender will require title insurance and will receive a "Lender's Policy". It is your choice whether or not to pay an additional premium and purchase an "Owner's Policy". And if you decide to purchase an "Owner's Policy", and you will be living in the property you are purchasing, you now have a choice of two different policies. The two policies are described in the attached chart. If you decide to purchase an "Owner's Policy", we hope the information provided will help you decide which policy is right for you.
 

Why should I get an "Owner's Policy" and how much will it cost me?

Title Insurance protects you against the risks which are present in every real estate transaction. There are "hidden" risks, which can't be detected through a title examination, and risks resulting from human errors. In general, title insurance protects against future loss arising from events that happened in the past.
 

The premium is paid at the time of settlement. Your lender will require a policy, and the premium charged to you at settlement for the "Lender's Policy" is based upon the amount of your loan. A "Lender's Policy" insures the Lender up to the amount of the loan. An "Owner's Policy" is based upon the purchase price of the property and purchased in conjunction with the "Lender's Policy." For more specific rate information, please contact us.
 

What choices in coverage do I have when purchasing an "Owner's Policy"?

If you will be living in the property you are purchasing, there are two policies for you to choose from when purchasing an Owner's Policy. We have outlined the differences for you in the following chart. If you have any questions about coverage, please do not hesitate to contact us. We'll be happy to explain the differences in greater detail.