
Getting title insurance for your Maine home is important, but if you’ve talked much with your real estate agent about what’s required, you may have heard both owner’s title insurance and lender’s title insurance mentioned. It’s true that there are two different policies, but many buyers wonder why it’s necessary to have both. The reason is because of the way the policies are structured, how long they last, what they cover, and who they protect. As their names indicate, the owner’s title insurance protects the buyer, and the lender’s title insurance protects the bank or mortgage company.