Can I take out title insurance on a property for more than I paid? Paid 10k and would like a 40k policy?
Nope! It doesn't work that way, it's ONLY covering the officially transferred price, according to the registry of deeds.
Source(s):
agent, 21+ years
You can do it, but the company that issues the policy is only liable for the replacement of Actual loss. Some agents may sell you the policy with the higher premium, but should something happen, the company will only have to pay the $10,000 loss. Even if you are paying more.
|
