While both of these title insurance policies work to protect against title defects, who they protect is different for each. An owner’s policy is one that you would purchase to protect your own interests in the property. Should any issues arise that make the title questionable, you will be protected financially and with a legal defense thanks to the policy. Without it, not so much. Your owner’s policy will remain in effect as long as you have an interest in the property. A lender’s policy is slightly different, although it protects against title issues, too. It is concerned with protecting the lender and its interest in the property. It is valued for the amount of the mortgage and, once the loan is satisfied, the lender’s policy is no longer valid.