The Two Types of Owner’s Policy

ALTA  Homeowner's Policy

The extended coverage Homeowner's Policy is a policy originally adopted by the American Land Title Association (ALTA) in 1998. The policy is designed to give purchasers new coverages which had only been partially available to them before. Below you will find a comparison of the standard ALTA policy and the new ALTA Homeowner's policy. The new policy costs slightly more than the standard ALTA policy, but it is worth it. The Homeowner's policy is generally only available at the time of purchase and only on properties that meet certain requirements (I.E. residential, in a subdivision, single family, etc).

ALTA Standard Owner's Policy

The ALTA Standard Owner's Policy with small variations has been around for decades. It is the basic title insurance policy for the owner and provides some basic, but valuable coverages.

The chart below provides a quick comparison of coverages, if you need additional help in determining which policy is right for you, please call one of our offices.

ALTA Standard vs. ALTA Extended

Coverage	ALTA Standard	ALTA Extended
A third party claims interest in the title
Improperly executed document
Pre-policy forgery, fraud, or duress
Defective recording of documents
Non-recording of documents
Liens not disclosed in the policy
Unmarketability of title
Mechanic's liens claims
Forced removal of structure because it: extends onto other land or onto an easement violates a restrictive covenant in Schedule B violates an existing zoning law
Land cannot be used for single family dwelling because use violates a restriction in Schedule B or a zoning ordinance
Unrecorded easements
Rights under unrecorded leases
Building permit violations
Subdivision map act violations
Restrictive covenant violations in: Loss of title inability to obtain a loan or close a sale loss due to enforcement
Enhanced vehicular and pedestrian access
Map not consistent with legal description
Post policy forgery
Post policy encroachment onto insured land
Post policy structural damage from mineral extraction
Post policy living trust coverage
Post policy automatic increase in coverage to 150%

NOTE: This is a summary for purposes of convenient comparison. All references to coverage are made subject to the actual language of the policy form and schedules. Deductibles and special liability limitations apply to some coverages.