Title Commitments & Policies

For nearly twenty years, Cambridge Title Company has provided title insurance and escrow solutions to Chicagoland homeowners. Over the years, we've answered numerous questions from our customers. Today, we'd like to address another one. So what is the difference between a title commitment and a title policy?

First of all, a title commitment is issued before a home's closing. Basically, this is a title company's way of saying that they will issue title insurance assuming that the home seller fixes any outstanding issues with the property.

While this commitment doesn't assure the home buyer that there aren't any issues nor will there be in the future, it does alert the buyer to items that may cause problems.

On the other hand, a title policy is issued after the home closing. The purpose of the policy itself is to provide full property coverage.

Title policies come in two flavors: an owner's policy or a loan policy. Owner's policies are used to protect you from questions of property ownership that were unheard of prior to closing on the property. Meanwhile, the loan policy protects your mortgage lender till you pay off the property, including interest.

For more information on title insurance and escrow services, contact Cambridge Title Company by phone at 224-330-1886 or by email at info@cambridgetitleco.com.