Lenders Guarantee Title Company, Inc

What is Title Insurance?

Title insurance, unlike other forms of insurance, such as automobile or life insurance, involves a one-time premium, paid when you close the real estate transaction. When you purchase title insurance, you don’t have to make monthly, quarterly or yearly payments as you do with car and life insurance. Unlike medical and casualty insurance premiums, which are paid to insure against an unpredictable future event, title insurance guarantees that all events in the past have been cleared. This is an important distinction. Since a title company has searched and evaluated the condition of the title to your property, title insurance guarantees that the title company has not missed any items which may affect your property.

The goal of title companies is to conduct such a thorough search and evaluation of public records that no claims will ever arise. Of course, as humans we are never 100% right! Title insurance means that you can make a claim in the event that the conditions of your title is not as we say it is. In fact, title insurance companies set aside a percentage of their profits to pay for any claims that arise. In actuality; however, the number of claims is relatively small. When your escrow closes, the title company will issue you a policy of insurance. Keep this with your home records, as a copy of it will come in handy in the unlikely event that a problem does arise. Title companies keep records that go back decades, so we will always be ready to back up our policy.

Types of Policies

There are basically two types of title insurance policies -- one for property owners and one for lenders. Policies for both owners and lenders are written according to guidelines set down by either the Missouri Land Title Association (MLTA) or the American Land Title Association (ALTA). All title companies in Missouri can issue both types of policies. 

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South St. Louis City (Main Office)

5840 Hampton Ave St Louis MO 63109 (314)481-9200 phone (314)481-9204 Fax

Farmington

307 East Karsch Suite B Farmington MO 63640 (573)760-9600 phone (573)760-9604 fax

Festus

209 E Main Street Festus MO 63028  (314)594-5100phone (314)667-3142 Fax