Title Insurance Producer Independent Contractor (TIPIC) Practice Exam 2025 - Free TIPIC Practice Questions and Study Guide

A statutory notice to buyers regarding title insurance typically includes important information that buyers need to make informed decisions. The inclusion of the cost of an owner's policy is critical because it helps buyers understand the financial implications of obtaining title insurance. This cost is an essential component of the information that must be disclosed so that buyers can compare options and understand what they will need to budget for.

While the terms of coverage might be important, the specific focus of a statutory notice often emphasizes transparency regarding costs. Similarly, although the agent's credentials could be relevant to establishing trust, they are not usually a requirement in the statutory notice itself. Hence, the emphasis on the cost of the owner's policy aligns with the primary goal of statutory notices, which is to inform buyers clearly and directly about their financial obligations when considering title insurance.