Eagle Protection Title Insurance Policy
Provides homeowners the superb protection of an ALTA Plain Language Owner's
Policy PLUS important new coverages: Compare to our Standard Policy.
1. BUILDING PERMIT VIOLATION.
The homeowner is covered if forced to remove an existing structure (except
boundary walls & fences) because the structure was built by a previous
owner without a permit. This completely new coverage will pay up to $25,000.00
(after 1% of policy deductible) is satisfied.
2. SUBDIVISION MAP ACT COVERAGE
Coverage is extended to a homeowner who cannot close a sale, get a
loan, or obtain a building permit because the land was improperly subdivided
prior to the homeowner's purchase. The insurer will pay up to $10,000.00 (over
a 1% of policy deductible) to afford homeowners protection against this
often-frustrating problem.
3. RESTRICTIVE COVENANT VIOLATIONS.
In regards to violations of Covenants, Conditions and Restrictions
(CCRs) occurring prior to insured homeowner:
a. Loss of title because of violations (no deductible)
b. Coverage if owner cannot close a sale or obtain a loan because of a
violation. (no deductible)
c. Protection against loss from attempts of others to enforce restrictions
against the homeowner. (only this last coverage is subject to a 1% of policy
deductible)
4. POST-POLICY FORGERY.
The Eagle Protection Owner's Policy protects against forgeries which may occur in the
future and cloud the homeowner's title. Mortgages forged against the property,
identity theft that involves the title. This coverage has never been offered
before and its protection is becoming more sought after with the increase in
identity thefts.
5. ENHANCED ACCESS.
This insures BOTH pedestrian and vehicular access. (The ALTA Plain
Language Policy only insures access, but not specific access)
6. POST-POLICY ENCROACHMENT.
If, after purchase, someone else builds a structure (excluding boundary walls
& fences) which encroaches on the insured property, the insurer will take
corrective action or provide compensation. (This is most common in new
subdivisions but can occur with additions & remodels etc.)
7. STRUCTURE DAMAGE FROM MINERALS EXTRACTION.
The Eagle Protection Owner's Policy protects homeowners whose structures, including
those built to modify or replace existing structures, are damaged by others
using the surface of the land in the course of extracting minerals. Extends to
structures built post-policy, modifications of structures or replacement of
existing structures.
8. MAP INCONSISTENCIES.
The Eagle Protection Owner's Policy protects against loss when the map attached to the
title policy does not show the same location and dimensions of the land as
those shown in the public records. This coverage, commonly provided to lenders,
is now automatically afforded to homeowners with the Eagle Protection Owner's Policy.
9. ANNUAL INCREASE IN COVERAGE AMOUNT.
With the Eagle Protection Owner's Policy, the amount of protection provided by the
policy will increase in each of the first 5 years by 10% of the original amount
up to one hundred fifty percent (150%) of the policy amount shown on Schedule
A.
10. LIVING TRUST COVERAGE.
The protection of the Eagle Protection Owner's Policy extends to the trustee of a trust
who receives a deed from the homeowner after the policy date.
11. AUTOMATIC SURVEY COVERAGE.
This coverage saves money right from
the beginning. The Eagle Protection
Owner's Policy will be issued with survey coverage but without
the expense of a survey! NOTE: THIS FEATURE SAVES YOU $300.00 -$400.00 CHARGED FOR
A LAND SURVEY! (must be a 1-4 family home in a platted
subdivision)
12. CLOUD ON TITLE.
With the Eagle Protection Owner's Policy you need not worry about an error that could
cost you money after you have bought your home. This coverage is provided if
your title should become clouded by a recorded document that contains your
legal description, whether by mistake or in a specific effort to cause you
harm, AND you are prevented from selling your home or obtaining new coverage.
13. ADVERSE POSSESSION.
You are protected if after you take ownership of your new home, someone claims
to have title arising out of their continued use and occupancy of your land.
COVERAGE FOREVER!
This policy insures you forever, even after you no longer have your
title. All other policies terminate when the homeowner gives up title to a
property and no longer has liability under title warranties.
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