Although most people are aware of the danger of credit card fraud, many are unaware of the even greater danger posed by title fraud. Title fraud occurs when a fraudster takes over title to your home, without your knowledge. Usually this is done by some form of identity theft, fraud by forgery. The real estate industry estimates that it costs Canadians between 300 million and 1.5 billion each year and according to industry insiders there is virtually nothing any homeowner can do to prevent it.
Fortunately insurance is available to protect you from unscrupulous fraud artists. Until recently title insurance could only be purchased at the time you bought your home, however it can now be purchased even if you already own your home. If you did not receive title insurance when you purchased your home, you can obtain protection and peace of mind with a Platinum Title Insurance Policy from Utter Morris Insurance. The policy is backed by Canada’s leading provider of Title Insurance – First Canadian Title.
Purchasing title insurance is easy – just email us and request an application – simply complete the application and return it along with a copy of your home’s municipal assessment showing the current assessed value and we will be able to provide a quote. Premiums average around $400 and best of all, it is a one time fee, good for as long as you own your home!
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