Are you overdue for a title insurance policy review? Discover why it's crucial to revisit your policy annually in this article brought to you by Topkins & Bevans in Waltham.

Don’t wait for a problem to arise—review your title insurance policy today and rest easy knowing your home is in good hands. Don’t know how to proceed? Contact Topkins & Bevans in Waltham at (781) 890-6230, and our team will come to help you and ease this process.

Why Review Your Title Insurance Policy Annually?

While title insurance is designed to provide peace of mind, a lot can change over time, which may affect your property or the terms of your policy. An annual title insurance policy review ensures that your coverage remains relevant and up-to-date. Here are some of the key benefits of reviewing your policy every year:

1. Ensure Coverage Matches Your Current Needs

Life changes—and so do your circumstances as a homeowner. You may have refinanced your mortgage, added a co-owner, or made significant changes to your property that could impact your title insurance coverage. Reviewing your policy annually ensures it aligns with your current needs and reflects any changes in your property’s ownership structure.

For example:

• Have you added a spouse or family member to the title?
• Have you inherited the property or transferred ownership to a trust?

2. Identify and Address Potential Title Issues

Over time, issues that were not present when you initially purchased your policy may arise. Regularly conducting a title insurance policy review allows you to identify potential problems, such as:

• New liens or encumbrances placed on the property
• Disputes over boundary lines
• Errors in public records that have surfaced after your purchase

By catching these issues early, you can address them proactively and avoid complications during future transactions, such as refinancing or selling your home.

Revisiting your title insurance policy is easy with the help of our experienced team. Contact Topkins & Bevans in Waltham at (781) 890-6230 and find out how their team can help with their personalized guidance.

3. Understand Your Policy’s Exclusions and Limitations

When you first purchased your title insurance, you may not have fully understood the policy’s exclusions and limitations. Revisiting your policy annually allows you to familiarize yourself with what is and isn’t covered, ensuring no surprises when making a claim.

For instance, some policies may not cover issues related to:

• Zoning violations
• Easements or rights-of-way
• Environmental restrictions

4. Stay Informed About Local and Legal Changes

Real estate laws and regulations are subject to change, which can impact your property rights. Conducting an annual title insurance policy review ensures you stay informed about any new rules or ordinances that could affect your policy. For example, updates to zoning laws or tax assessments may require adjustments to your coverage.

How to Conduct an Effective Title Insurance Policy Review

Reviewing your title insurance policy doesn’t have to be overwhelming. Here’s a step-by-step guide to help you through the process:

1. Locate Your Policy Documents

Start by gathering all relevant documents, including your original title insurance policy, closing paperwork, and any addendums or updates. Contact your title insurance provider for copies if you can’t find these documents.

2. Review the Policy Details

Take the time to read through your policy carefully. Pay close attention to:

• The property description and legal boundaries
• The names listed as insured parties
• Any exclusions, limitations, or exceptions

3. Assess Changes in Your Property or Ownership

Consider any changes to your property or ownership structure since your last review. Examples include:

• Adding or removing co-owners
• Refinancing your mortgage
• Making significant renovations or additions

4. Consult with a Title Insurance Professional

A professional title insurance agent or attorney can provide valuable insights during your review. They can help you interpret the policy’s terms, identify gaps in coverage, and recommend updates if necessary.

5. Make Necessary Updates

If your review reveals the need for updates, work with your title insurance provider to make the necessary changes. This might include:

• Adding new insured parties
• Addressing newly discovered liens or encumbrances
• Updating the property’s legal description

Common Updates to Look For

When conducting your title insurance policy review, here are some common updates to consider:

1. Ownership Changes As mentioned earlier, changes such as if you’ve added a spouse, partner, or family member to the title, ensure they are included in the policy.
2. Refinancing Refinancing your mortgage may require adjustments to your title insurance policy to ensure continued lender protection.
3. Boundary Disputes If there are discrepancies in property boundaries, ensure your title insurance policy accounts for these issues.
4. Easements and Rights-of-Way Verify that any new easements or rights-of-way affecting your property are reflected in your policy.
5. Zoning or Land Use Changes Check whether local zoning laws or land use regulations have changed and ensure your policy remains compliant.

Ready to protect your property with a thorough policy review? Call Topkins & Bevans in Waltham at (781) 890-6230 for expert advice and unmatched service to ensure your policy meets your needs.