Q: Can a T-23 Access Endorsement be issued on a road or street or highway that is not physically open?
A: No. The T-23 insures against loss if the land does not abut and have actual vehicular and pedestrian access to and from a named street/road/highway and insures against loss sustained by the insured if the street is not physically open. The requirements for issuing the T-23 are: (i) a current survey showing that the property to be insured abuts the road/street/highway to be named in the endorsement; (ii) the survey should reflect the name of the road/street/highway that abuts the property; and (iii) the survey must reflect or state that the abutting thoroughfare is open to physical travel by both vehicular and pedestrian means to and from the property to be insured. The survey should show no restrictions or prohibition on curb cuts. If the property abuts more than one physically open thoroughfare, a separate endorsement would be issued for each such street/road/highway. The applicable procedural and rate rules are set out below.
P-54. ACCESS ENDORSEMENT (T-23)
A Company may issue its Access Endorsement ( T-23) on or after the date Rate Rule R-30 is effective to a Loan Policy ( T-2) or Owner’s Policy ( T-1) on land which contains improvements and which is not residential real property, if its underwriting requirements are met and if it is paid the premium, if any, prescribed in Rate Rule R-30. The Company may add any exception to the endorsement that it considers, in its sole discretion, to be appropriate. The Company shall delete any insuring provision or portion thereof if it does not consider that risk acceptable. Any insured matter covered in the Access Endorsement (T-23) may be insured only by the use of this endorsement.
R-30. PREMIUM FOR ACCESS ENDORSEMENT (T-23)
When the Access Endorsement ( T-23) is issued with a Mortgagee Policy of Title Insurance ( T-2) or Owner Policy ( T-1) in accordance with Rule P-54, the premium for the Access Endorsement (T-23) shall be $100 for each policy.