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Why You Need Owner’s Title Insurance

Title insurance shields homeowners from potential title defects, providing a safeguard against threats to your property rights.

Here are some reason’s title insurance is important:

1. Disputes Can be Expensive!

Resolving title disputes can be financially burdensome, especially when legal representation is required. Title insurance has coverage for legal expenses that may arise during the investigation, litigation or settlement of a claim. Opting for an owner’s title insurance policy equips you with the financial backing to defend against a covered claim.

2. The Seller May Not Actually Own the Property

A seller may think they have true ownership or the authority to sell the home. Title insurance provides coverage against title defects arising from fraud, forgery, incapacity, impersonation or if the seller did not have sufficient authority to transfer the property.

3. A Lender’s Policy Only Protects the Lender

It is common for a lender to require the borrower to purchase a lender’s title insurance policy. A lender’s title policy does not offer coverage to you as the homeowner.

4. Purchasing a Home is a Long-Term Investment

An owner’s title insurance policy offers protection for this investment with a one-time premium. This protection lasts as long as you own your home. Coverage even extends to your heirs.

Bottom line? Everyone purchasing a property would be wise to purchase an owner’s title insurance policy to protect against any future legal issues that may arise. It’s a low-cost solution that provides peace of mind for as long as you own your property.