Where is the "Amount of insurance" defined in a title commitment?

The "Amount of insurance" is defined in Schedule A of a title commitment. This section serves as the introductory part of the title commitment document and outlines key details regarding the property and the insurance coverage being provided. Specifically, Schedule A includes important information such as the effective date of the commitment, the proposed insured (the person or entity that will be covered by the title insurance), and crucially, the amount of insurance, which indicates the maximum liability the title insurer assumes under the policy.

This definition is critical as it helps clarify the extent of coverage in the event of a title dispute or defect. Understanding the amount of insurance is essential for both the buyer and the lender, as it provides an assurance of the financial exposure to potential title issues.

In contrast, the other schedules (B, C, and D) serve different purposes. Schedule B typically lists the exceptions to coverage, while Schedule C contains the requirements that must be fulfilled before issuing the title policy. Schedule D may include miscellaneous provisions and terms related to the commitment. However, none of these sections contain the definition of the amount of insurance, which is why Schedule A is the correct choice.