Title Insurance

Save Money and Protect Your Good Title

Real estate title fraud is widespread across Canada. Real estate industry insiders estimate that real estate fraud costs Canadians between $300 million and $1.5 billion each year and they peg the average case of real estate fraud at $300,000.

When real estate title fraud occurs, the onus is on the homeowner to prove the crime, something which can be very costly, financially and emotionally,. With title insurance you can protect your biggest investment.

Title insurance protects new home buyers and existing homeowners against losses as a result of title defects and claims against a property not uncovered in a title search. It also provides protection against things such as unpaid liens, encroachment issues, construction liens, defects in title, costs arising from building code violations, and real estate title fraud.

The Consumers Council of Canada (CCC) recommends the purchase of title insurance for both new homebuyers and existing homeowners, based on findings from a 2005 CCC study.

What does PWUPP Title Insurance provide?

PWUPP provides relief from many of the repercussions of title fraud including:

losses associated with a fraudulent mortgage that remains registered against the rightful owner’s (your) interest,
the cost of defending your ownership right, and
the stress, uncertainty and time spent resolving title related problems.

And protection from other title problems such as:

discrepancies in your title,
certain construction liens,
defects that would have been revealed by an up-to-date survey and survey errors or illegibility.

Who is covered? For title insurance, also note that a member may register a property, the title of which is held solely by the member’s spouse, but only if a member is one of the occcupants of the property.

How many properties can the member insure? There is a lifetime limit of one property per family.

NOTE: To register for Title Insurance for either an existing home/property, or for Title Insurance on a new home or condo purchase, you must complete a special application with First Canadian Title Insurance. Call 1-877-393-0338 to do so.

Title Insurance for Existing Homeowners

Items	Coverage Terms and Conditions	Description/commentary
Policy Period	Coverage begins only after you register for Title Insurance through the PWUPP Call Center. The policy remains in effect for as long as you have a registered interest in the property.	Once the policy is issued you have coverage as long as you retain a registered interest in the property.
Limits	When you order your title insurance policy you are asked for the market value of your property, which may be taken from its assessed or appraised value or an estimated value from you. This amount becomes your Policy Amount. The Policy Amount can increase based upon an increase in the fair market value of the land up to a maximum of two hundred percent (200%) of the Policy Amount. The insurer reserves the right to do a retroactive appraisal back to the issue date to confirm the value in the event of a claim.	If you submit a claim and your house has increased in value since the time you purchased the title insurance policy, policy will compensate you for actual loss up to 200% of the Policy Amount.
What is Title Insurance?	Title insurance protects new and existing homeowners, commercial property owners and lenders against losses as a result of title defects and claims against a property not uncovered in a title search. Title insurance provides protection against issues like unpaid liens, encroachment issues, construction liens, defects in title, costs arising from building code violations, as well as real estate title fraud,. Title insurance is an effective way to protect the property owners from loss. It covers all legal expenses related to restoring a title and is available to existing homeowners long after they have purchased their properties.	Title Insurance provides protection for your interest in the Title to your property.
Who is Covered?	The registered owner(s) of the property, if they are a member in good standing of the Power Workers’ Union. The member may register a property, the title of which is held solely by the member’s spouse, but only if the member is one of the occupants of the property.	In the event of a death of one of the registered owners, the policy coverage extends to the surviving owner and/or the beneficiary of the deceased owner who receives title to the property, if applicable.
What is Covered?	In addition to fraud and forgery, First Canadian Title’s Platinum Title Insurance Policy for existing homeowners provides other valuable protection to the homeowner. The policy protects the insured in the event that a loss is suffered as a result of a covered title risk that occurred prior to the policy date and was unknown to the insured or not contained in the legal opinion that the insured obtained at the time the property was purchased. The insurer can also cover certain defects that existed at the time the owner purchased the property with a view to providing coverage to the owner. In these instances you would need to contact the PWUPP call center to see if coverage is available. Coverage is also provided for certain post-policy and post-issue title defects that did not exist at the time the insured ordered the policy, but occurred after the policy has been issued, and were not known to the insured when they ordered the policy.	Title Insurance covers ONE property owned by the member registering it. In addition to fraud and forgery, First Canadian Title’s Platinum Title Insurance Policy for existing homeowners provides other valuable protection to the homeowner. Some examples of post policy coverage are: Someone disputes your ownership Someone claims to have rights to your title out of an old lease Someone claims to have an easement over your land Someone claims to have a right to restrict your use of your land Your title is defective.
What do I do if I find out about a claim or legal proceeding?	Contact PWUPP at 1-877-888-1153.
What Happens if I have a Disagreement with the Insurance Company?	Click here
Extensions of Coverage	For a one-time premium, First Canadian Title’s Platinum Title Insurance Policy for existing homeowner’s provides relief from the following repercussions of title fraud: The cost of defending one’s right of ownership, which can cost tens of thousands of dollars; The stress and uncertainty surrounding the resolution of title-related problems.
What is not Covered?	Identity theft for credit cards etc. Home and Fire Insurance