Simultaneous issue refers to issuing the owner’s policy and the lender’s policy at the same time on the same property as part of one purchase closing. Because the underwriter performs a single title search and examination covering both, the lender’s loan policy is issued at a significantly reduced “simultaneous” rate rather than full price — often a small flat fee or steep discount on top of the owner’s premium. The practical effect is that buying both policies together costs far less than the sum of the two purchased separately, which is one reason buyers are encouraged to obtain owner’s coverage when a lender’s policy is already being issued. Exact rates depend on the state’s rate structure and the title company’s filed rates, so ask for a quote on the specific transaction.