Deal Protection Endorsement
Protection for years to come
Our coverage lasts as long as the title insurance policy is valid. Should a claim be filed against you 10, 20 or even 50 years after a transaction closed, you’re still protected regardless of the date of discovery.
Coverage for residential and commercial transactions.
When added to a residential or commercial FCT title insurance policy, the Deal Protection Endorsement covers the insured in the event they suffer a loss due to certain errors or omissions in providing legal services during a real estate transaction.
Get added peace of mind knowing your purchase and refinance transactions are covered for risks as soon as the title insurance policy is issued.
$29,380.00 paid
A buyer moved into her condo with plans to renovate it. When she started taking out the walls, she saw fibers, which turned out to be asbestos. The reporting letter her lawyer had prepared when she was closing on the property hadn’t mentioned asbestos. The lawyer had missed the asbestos in their searches, and now that it had been disturbed, it all had to be removed. Fortunately, the lawyer included the Deal Protection Endorsement to the title insurance policy and the insured was covered for the costs.
Protection summary
For a small premium, the Deal Protection Endorsement provides coverage up to the title insurance policy limit and compliment your E&O Complete. Provides coverage for:
- Errors or omissions in the review of the agreement and documents related to the purchase or financing of the Land
- Errors or omissions made in the statement of adjustments or the disbursement of closing proceeds
- Failure to conduct title or off-title searches in accordance with written instructions from the client
- Errors or omissions made in the written legal opinion regarding the title or off title searches
- Failure to obtain additional documents that pertain to the transaction
Discover our Legal Services Coverage
Which of our E&O suite of products is best suited for you?
| Prime Protection Package | |||
|---|---|---|---|
| Compare E&O Suite of Products† | E&O Extra ® | E&O Complete™ | Deal Protection Endorsement1 |
| FCT title insured purchase and refinance transactions | |||
| Commercial transactions* | |||
| Reimbursement of mandated policy deductible/surcharges | ❌ | ||
| Upfront settlement | ❌ | ||
| Reimbursement coverage limits | $30K per transaction $90K lifetime |
$30K per transaction $90K lifetime |
❌ |
| Upfront coverage limits | ❌ | $10K per year / 3 claims | Title insurance policy limit |
| Non-title insured vendor and borrower only | ❌ | ❌ | |
| Insured | Lawyer/Notary | Lawyer/Notary | Property owner/Lender** |
| Premium (provincial taxes apply) | $0 per year ($400 with 100% discount) |
$700 per year | Variable, see premiums |
1 Deal Protection Endorsement is not available for existing homeowner policies.
* Coverage for commercial transactions is up to a maximum of $5 million.
** In British Columbia, the lawyers and notaries are the insured.
Have a question?
Call us toll free at 1.866.804.3122 or email moreprotection@fct.ca.
Deal Protection Endorsement Premiums†
Premiums vary based on the transaction type and/or amount as per the tables below.
Residential premiums
| Transaction type 1 | Premium |
|---|---|
| Purchase with two policies | $25.00 |
| Purchase with one policy | $20.00 |
| Refinance with one policy | $10.00 |
| Any additional policy | $5.00 |
Commercial premiums
| Transaction amount 2 | First policy premium | Each additional policy premium | |
|---|---|---|---|
| Over $250,000 | $50.00 | $10.00 | |
| Over $250,000 to $500,000 | $75.00 | $15.00 | |
| Over $500,000 to $2,000,000 | $100.00 | $20.00 | |
| Over $2,000,000 to $5,000,000 | $125.00 | $20.00 | |
| Over $5,000,000 to $10,000,000 | $150.00 | $25.00 | |
| Over $10,000,000 to $20,000,000 | $200.00 | $30.00 | |
| Over $20,000,000 to $30,000,000 | $250.00 | $35.00 | |
| Over $30,000,000 to $40,000,000 | $300.00 | $40.00 | |
| Over $40,000,000 to $50,000,000 | $350.00 | $45.00 | |
| Over $50,000,000 | $400.00 | $50.00 | |
†Plus applicable taxes. This endorsement is limited by the exceptions and exclusions in the policy. The Deal Protection Endorsement is not available in Quebec. In British Columbia, the lawyers and notaries are the insured.
1Deal Protection Endorsement is not available for existing homeowner policies.
2Coverage for commercial transactions is up to a maximum of $5 million.
Insurance by FCT Insurance Company Ltd. Services by First Canadian Title Company Limited. The services company does not provide insurance products. This material is intended to provide general information only. For specific coverage and exclusions, refer to the applicable policy. Copies are available upon request. Insurance brokerage services by FCT Insurance Services Inc. Some products/services may vary by province. Prices and products/services offered are subject to change without notice.
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