I have a policy with me listed as the insured. The covered amount is the original purchase price with a notion of the mortgage amount.
Will the policy still be valid after I pay off my mortgage but still own the same house?
(Somehow I got an impression that the title insurance only benefits the mortgage bank and I may need to buy a re-issued policy if I clear my mortgage. But I cannot find any obvious clause in the policy details --- I must admit I don't fully understand those legal jargons on the policy document.)
Thanks.