Protecting your Home Investment

A home is usually the largest single investment any of us will ever make. When you purchase a home, you will purchase several types of insurance coverage to protect your home and personal property. Homeowner's insurance protects against loss from fire, theft, or wind damage. Flood insurance protects against rising water. And a unique coverage known as title insurance protects against hidden title hazards that may threaten your financial investment in your home.

Protecting Your Largest Single Investment

Title insurance is not as well understood as other types of home insurance, but it is just as important. You see, when purchasing a home, instead of purchasing the actual building or land, you are really purchasing the title to the property - the right to occupy and use the space. That title may be limited by rights and claims asserted by others, which may limit your use and enjoyment of the property and even bring financial loss. Title insurance protects against these types of title hazards.

Other types of insurance that protect your home focus on possible future events and charge an annual premium. On the other hand, title insurance protects against loss from hazards and defects that already exist in the title and is purchased with a one-time premium.

Two Kinds of Title Insurance Benefit You in Two Ways

There are two basic kinds of title insurance:

* Lender or mortgagee protection,
* Owner's coverage.


Most lenders require mortgagee title insurance as security for their investment in real estate, just as they may call for fire insurance and other types of coverage as investor protection. When title insurance is provided, lenders are willing to make mortgage money available in distant locales where they know little about the market.

Owner's title insurance lasts as long as you, the policyholder - or your heirs - has an interest in the insured property. This may even be after you have sold the property.

Depending on local practices and state law where the property is located, you may pay an additional premium for an owner's policy or you may pay a simultaneous issue charge - usually a smaller amount - for the separate lender coverage. You may even split settlement costs with the seller for the lender or owner's policy.

What does Your Premium Really Pay For?

An important part of title insurance is its emphasis on risk elimination before insuring. This gives you, as the policyholder, the best possible chance for avoiding title claim and loss.

Title insuring begins with a search of public land records affecting the real estate concerned. An examination is conducted by the title agent or attorney on behalf of its underwriter to determine whether the property is insurable. The examination of evidence from a search is intended to fully report all "material objections" to the title. Frequently, documents that don't clearly transfer title are found in the "chain," or history that is assembled from the records in a search. Here are some examples of documents that can present concerns:

* Deeds, wills and trusts that contain improper wording or incorrect names;
* Outstanding mortgages and judgments, or a lien against the property because the seller has not paid his taxes;
* Easements that allow construction of a road or utility line;
* Pending legal action against the property that could affect a purchaser; or
* Incorrect notary acknowledgments.


Through the search and the examination, title problems are disclosed so they can be corrected whenever possible. However, even the most careful preventative work cannot locate all hidden title hazards.

Hidden Title Hazards - Your Last Defense

In spite of all the expertise and dedication that go into a title search and examination, hidden hazards can emerge after closing, resulting in unpleasant and costly surprises. Some examples of hazards include:

* A forged signature on the deed, which would mean no transfer of ownership to you;
* An unknown heir of a previous owner who is claiming ownership of the property;
* Instruments executed under an expired or a fabricated power of attorney; or
* Mistakes in the public records.


Title insurance offers financial protection against these and other covered title hazards. The title insurer will pay for defending against an attack on title as insured, and will either perfect the title or pay valid claims. All for a one-time charge at closing.

Your home is your most important investment. Before you go to closing, ask about your title insurance protection, and be sure to protect your home with an owner's title insurance policy.

The need for title insurance arose historically from the fact that traditional methods of conveying real property did not provide adequate safety to the parties involved. Until a century ago, transferring title to real property was handled primarily by conveyancers, who were responsible for all aspects of the transaction. The conveyancer conducted a title search to determine the ownership rights of the seller and any other rights, interests, liens or encumbrances that might exist with respect to the property, and, based on its search, provide a signed abstract (or description) of the status of the title. Although the conveyancer was generally not a lawyer, that individual was recognized as an authority on real estate law. The origin of title insurance is directly traceable to the limited protection that the work of such a conveyancer provided to the purchaser of real property.

In 1868, the celebrated case of Watson v. Muirhead (57 Pa. 161) was filed in Pennsylvania. In that case, Muirhead, a conveyancer, had searched and abstracted a title for Watson, the purchaser of a parcel of real property. In good faith and after consulting an attorney, Muirhead chose to ignore certain recorded judgments and to report the title as good and unencumbered. On the basis of Muirhead's abstract, Watson went ahead with the purchase, but was subsequently presented with, and require to satisfy, the liens that Muirhead had concluded were not impairments to title. Watson sued Muirhead to recover his losses, but the Pennsylvania Supreme Court ruled that there was no negligence on the conveyancer's part and dismissed the case. Watson, an innocent purchaser who had suffered financial damages because of the encumbrances on his title, had no recourse.

The decision of Watson v. Muirhead demonstrated clearly that the existing conveyancing system could not provide total assurance to purchasers of real property that they would be safe and secure in their ownership. As a result of that decision, the Pennsylvania legislature shortly thereafter passed an act "to provide for the incorporation and regulation of title insurance companies." The first title company was founded in Philadelphia in 1876.

This new type of insurance (called "title insurance"), addressed the concerns raised in Watson v. Muirhead by providing:

1. Responsibility without proof of negligence;

2. Financial protection through a reduction of the risk of insolvency; and

3. The assumption of risks beyond those disclosed in the public records (for which the abstractor was not liable).

Since the late 1800s, the title insurance industry has grown to where it now is an essential component in an overwhelming majority of real estate transactions in this country. The services provided by the title insurers may vary somewhat from one area of the country to the other, reflecting the different laws, customs and procedures of the various states and counties throughout the nation. But the essential purpose of these services is the same - to assist all of the parties in real estate transactions by ensuring that the acquisition or transfer of an interest in real estate can be effected with a maximum degree of efficiency, security and safety.

When buying a home for the first, or even second, time, you know that many considerations will arise in addition to the usual concerns like the mortgage and closing fees. Purchasing insurance is now a factor, and depending on where you live you may be faced with taking out policies for home, fire, and flood. However, few new home buyers may realize the need for another specific policy, particularly if the home they are buying is not new. Title insurance can prove valuable to the homeowner.

What is Title Insurance?

Simply defined, title insurance protects the homeowner against loss when issues tied to the property's title come into questions. The title is essentially the deed to the property, the legal document that transfers ownership of the home, land, and whatever else is specified therein from one person to another. In an ideal real estate transaction, the seller will sign the title over to the buyer. The document now proclaims that the buyer is now the owner of the property.

It should be a cut and dry process, but in certain situations the title of a property may come into dispute. For example, a home that had been owned over generations - sold to an outsider - may become the object of a legal battle should somebody in the family claiming to be the rightful owner decide to challenge the title. Also, it may come to pass that a seller who has no authorization to transfer a title does so anyway - maybe through forgery - thereby committing a fraudulent transaction. The holder of the title may then have to face legal and financial problems that could result in losing the property.

What Title Insurance Does

With title insurance, any possibilities of problems arising from a real estate transaction are smoothed over to allow for a clean sale. Unlike other types of insurance which pay after something happens, title insurance works protects the policy holder from losses incurred prior to the policy's release. Issues such as ownership disputes, unpaid taxes or liens are handled and cleared before the sale is final.

What Title Insurance Does Not Do

As mentioned earlier, title insurance differs from policies like car and fire insurance in that it doesn't cover losses the occur after the sale. If someone were to put a lien on your home, the title insurance would not cover any losses since the event happened after the policy was taken out. The insurance only protects you from losses involving the property's previous owner. In turn, should you decide to sell your home, a prospective buyer may take out a policy to protect himself from any issues (ownership, taxes) you have had as a homeowner.

While title insurance is not required for the homeowner, it can be a good investment for those seeking to buy certain properties. When the you consider the possibilities, having title insurance may save you a few headaches as you purchase your new home.

If you loose your job due to accident or injury, quite often your company’s disability policy is not enough. The state and federal governments do offer some temporary compensation to help with job loss but what happens when it runs out. This is where unemployment insurance comes in handy.

Many are looking to private companies to top up what the government or their employers currently offer. However, with the growing number of unemployment insurance policies being sold, there unfortunately are a growing number of fraudulent insurance policies on the market.

Fraud can mean someone telling a little white lie to extend their benefit or it can be very serious and include actual bogus policies being sold.

Fraudulent insurance policies are widespread across the insurance industry and the cost is overwhelming. Many who think they can depend on their policies suddenly find they have to use their life savings just to cover expenses. Sometimes homes and other valued possessions are lost when there are no savings to help them survive.

Insurance companies and those who sell fraudulent policies realize it will likely be some time before you actually collect on your policy. This makes it very easy for them to take your money and run. By the time you actually claim on your policy they are long gone.

When purchasing unemployment insurance take the following advice. If you see a company advertising on line, make sure they have a fixed address and phone number. If they have neither of these then don’t purchase from them. This company could be here today and gone tomorrow. Do not give any personal details over the internet. Once they have your account numbers they can do far more damage than a fake insurance policy. See if this company is registered in your state, if not then don’t purchase anything from them. Finally, it is best to purchase policies from large companies. They may be more expensive but their reputations are sound.

The scooter lift is an invention that enables elderly and handicapped individuals to enjoy further independence. Loss of mobility has made it increasingly difficult for them to move around; the use of mobility scooters has given them a large degree of independence, and a scooter lift helps them to take their independence around with them at home or on vehicles when travelling.

Buying a scooter lift should be looked upon as a long-term investment for these individuals. It is therefore important to appreciate the positive influence that the right scooter lift can have on such people and their families. The selection of an appropriate scooter lift is an essential part in achieving this objective.

For transporting a scooter, the lift can be attached behind a vehicle, a mobile home or a trailer for holding and carrying their mobility scooters with complete ease. This lift has the capacity to raise the scooter and to manoeuvre it into the correct position for the journey. A further advantage is that with a scooter lift, the mobility scooter being transported can be held in place outside the vehicle allowing more interior space for luggage and other accessories.

Scooter lifts are available in various makes and models with a large range of features. They don't weigh too much but can lift, hold and carry approximately 300 pounds of weight. They are affordable, easy to use and easy to maintain and clean. When not in use, scooter lifts can be disassembled for easy storage. Their dimensions vary according to the model being purchased; platform and jack-type models are available.

Most models offer steel construction, a protective coating finish, twelve volt DC motor with optional battery pack. Easy-to-use controls allow safe, simple and reliable operation. They are designed to provide ease of mobility and accessibility for the difficulties experienced by the disabled and elderly in their daily lives.

Miniature collectibles make for a beautiful collection and display. There are limitless possibilities to add to a miniature collection. It can be a very lucrative and rewarding hobby. It is important to consider that a collection with so much potential value should be insured. There are many factors to consider when choosing whether or not to purchase insurance for a collection of miniatures.

1) It is a common misconception that homeowners insurance will cover a dollhouse miniatures collection. It is true that homeowners insurance will cover a collection to a certain extent. The purpose of homeowners insurance is to cover the cost of the structure of the home as well as the every day personal belongings inside. A collection can be worth well beyond one’s every day personal belongings. Consider that a homeowner’s policy will cap the amount for personal belongings to 50% of the insurance policy. Then, an additional cap is placed at 10% to cover something such as a miniature collection. Depending on the amount of homeowners insurance, this likely will not cover an entire collection.

2) Private collectible insurance is a good idea if a collection is valuable both monetarily and emotionally. It is a personal choice whether or not to insure the collection. There are some vast differences between collectible insurance and homeowners insurance. Separate collectible insurance will generally cover the replacement value of the miniatures as well as providing compensation if a piece is lost, stolen, or broken. The majority of homeowners insurance will require a deductible that may be more than an individual piece of the collection is worth.

3) It can be difficult to estimate how much coverage is needed to cover an entire dollhouse miniature collection. It is necessary to consider how much each piece would cost to replace. It is also necessary to consider future purchases that will be added to the collection. Private collectible insurance companies will often provide a certain percentage increase on a regular basis to provide for new purchases and increased value of the collection. It may be difficult to take a complete inventory of the collection, but it will be helpful in determining the replacement value.

4) The cost of collectible insurance is derived from many factors regarding the miniature collection. The first is obviously the value of the collection. Another factor includes whether or not the collectibles are being kept in a secure location such as a safe or in a home with an alarm. There are certain other considerations that may lower premium costs including the heating and cooling system in the home where the collection is located. While these do not necessarily need to be met to acquire collectible insurance, it will lower the premium.

A dollhouse miniatures collection should be insured by special collectible insurance if it has monetary and sentimental value. If the cost of replacing the collection is much more than that of the cost of the premium, then it is worth the price. Imagine losing a precious miniatures collection and not having the insurance to cover the replacement. It is always better to be safe than sorry.

Mobile phone had ceased to be a luxury a long time back and nowadays it is more like a necessity that helps you to keep pace with this rapidly evolving world. With evolving technology and with each passing day newer mobile phones with even more integrated technological advancement are hitting the market.

As more and more features are packed in these pocket sized gizmos their price tags are bound to flaunt bigger amounts. In this scenario mobile phones like so many of our material possessions have become a 'valuable asset' that one needs to get insured! Loss by theft is not the only reason for losing one as these sophisticated gadgets are vulnerable to the forces of nature and something as harmless as a mild shower is enough to cripple your dear mobile phone for life.

This type of insurance deals can be availed with either the user's service provider (network) or any independent insurer who provides insurance cover for mobile phones. But what one should go for solely depends on the availability of the better deal. The two aforementioned deals have different plus points attached and that one has to decide according to their personal choice.

Your network will put the cost of the insurance along with the cost of the contract or the handset and in case everything doesn't go as planned with the handset then you can always return it. Also few mobile phone retailers offer insurance and sometimes waive the amount for initial time period to lure the customers but one should be vary of these deals! One should go ahead and avail it after thoroughly reading the terms and conditions. Frankly this helps! While the independent insurance provider may offer you a wider range of insurance cover options but more often than not you won't be able to get the perks that you can if you choose the deal offered by the mobile phone retailer judiciously.

It is all about the choice you make that will help you to put your precious (and costly) mobile phone under an insurance cover. One more way is to add it to your home contents insurance policy (if you have one), that will surely be a good idea. A fact to note is that any insurance can cost between £25 and £100 annually and if you think your handset is worth spending this amount only then the issue of insurance comes into picture.