Washington Buyer and Seller Guide for Title and Escrow

• Water and Mineral Rights Damage The Homeowner’s Policy provides coverage if a homeowner’s existing improvements, including lawns, shrubbery and trees, are damaged because someone exercised a right to use the surface of the land for extraction of minerals or water. • Supplemental Tax Lien The Homeowner’s Policy protects homeowners if a supplemental tax lien is filed and assessed against the property because of new construction or a change of ownership prior to the policy date. • Map Inconsistencies The Homeowner’s Policy provides coverage if the map attached to the homeowner’s policy does not show the correct location of the land, according to public records. • Continuous Coverage The Homeowner’s Policy covers homeowners forever, even if they no longer have the title. The policy insures anyone who inherits the title because of the homeowner’s death and the spouse who receives the title after dissolution of marriage. The Homeowner’s Policy also allows homeowners to transfer their home into a trust after the policy date and receive uninterrupted coverage, at no extra cost. • Value-Added Protection Traditional title policies don’t increase their coverage as the value of a home increases. Not so with the Homeowner’s Policy. The policy amount automatically increases by ten percent per year for five years, up to 150% over the original policy amount. This automatic increase in coverage is included at no extra cost. • How to Offer Homeowner’s Policy Coverage This information is a general overview of the coverages and protections the Policy provides. It should not be construed as a full statement of coverage or policy provisions. This policy has been adopted by both the Washington Land Title Association (WLTA) and the American Land Title Association (ALTA). Your company representative can provide you and your clients with information about the Homeowner’s Policy coverage in simple, easy to understand language. Your representative is also available to meet with your clients personally to explain the Homeowner’s Policy or any other title or escrow related product we offer. Simply request information about the Homeowner’s Policy when opening an escrow! It’s that easy! • Conditions, Stipulations and Further Information Call your local representative for more information or specifics about policy language pertaining to this and other products. The Homeowner’s Policy Coverage has certain deductibles, liability limitations, exceptions and exclusions which apply to some coverage items. 14 © Ticor Title Company HOMEOWNER’S POLICY ADDITIONAL BENEFITS