Benchmark Title Company, LLC


Added Coverages in the 2006 Title Policies

John Howe


The American Land Title Association Forms Committee (ALTA) has spent the last few years updating its standard 1992 ALTA Owners Policy and its 1992 Standard Loan Policy.

The 1992 forms required updating to, among other things, to clarify grey areas of coverage. You can go to and review a comparison chart between the 1992 and the 2006 policy forms. The following are only some of the highlights of those differences.

The 2006 forms contain broader coverage that is now explicitly stated. Where the 1992 owners policy only has four insuring clauses or “Covered Risks” and the 1992 loan policy has eight, the 2006 form contain ten and fourteen, respectively. The 2006 forms clearly set forth what is covered in positive and affirmative and understandable language.

The 2006 forms expressly address issues dealing with electronic documentation and recordings where the 1992 forms do not.

The 2006 forms add some survey coverage for encroachments. However, note that this does not preclude a title company from adding a broad survey exception in the event there is no survey or an outdated survey for a particular transaction where specific ALTA survey coverage is a requirement.

The 2006 forms contain “GAP” coverage (i.e., for coverage for things occurring between the date of closing or funding and the actual date of recording). Insureds no longer need to request that coverage by endorsement, as it is a part of the 2006 form policy.

To make issuance of endorsements easier, the 2006 loan policy form contains a “Check the Box” list of customarily requested endorsements. When the box is checked, the coverage applies without the need to physically attach the endorsement to the policy.

Although the 2006 forms do not contain any ground-breaking coverage that could not be obtained using the old form with the addition of certain endorsements, the 2006 forms greatly simplify the process by expressly providing coverage so that the insured is not burdened with the task of requesting certain endorsements. They also make it a bit easier for the insured to read and understand his rights and coverages under the policy.

There will be more on this in next weeks “Title Tip”.

Any questions can be directed to Benchmark Title at 618-239-3750. Please feel free to call or email:  

John Howe

Doreen Miller, Esq.
Vice President and General Counsel

Michelle Null
VP Escrow Operations

Bethany Bond
Marketing Director

Serving you from three convenient locations:

Main Office:
1124 Hartman Lane
Shiloh, IL 62221
Ph: 618-239-3750
Escrow Fax: 618-239-3707
Title Fax: 618-239-3757
Fax Orders: 618-310-1589
President: John Howe

318 North Main St.
Columbia, IL 62236
Ph: 618-281-9700
Fax: 618-281-9705
Manager: Randi Schur

4215 S. State Rte 159
Glen Carbon, IL 62034
Ph: 618-288-1695
Fax: 618-288-1852
Manager: Sara Sowell

Dates to Remember

December 25, 2007 - Benchmark Title Closed for Christmas Day

January 1, 2008 - Benchmark Title Closed for New Year's Day

January 17, 2008 - Benchmark Title Commercial Reception.  Details to come.

January 18, 2008 - HBA Annual Installation Banquet
At Four Points Sheraton Conference Center, Fairview Heights, IL

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