When you buy a home, you expect to enjoy important property rights. For example, you likely expect to be able to occupy the property, to be free from debts or obligations not created or agreed to by you, and to be able to freely sell your property or pledge it as security for a loan. Title Insurance is designed to protect these important property rights.

Here are seven reasons why you should consider purchasing an Owner’s Policy of Title Insurance:

black line

1. Buying a home is a big investment.

For a one-time premium, an Owner’s Policy of Title Insurance helps protect it.

2. The Seller may not own the home or have authority to sell it.

Title Insurance offers coverage against defects in title caused by fraud, forgery, incapacity, impersonation or the Seller’s lack of authority to sell property.

3. Warranties in your Deed may not guarantee your ownership of the home.

Even if the Seller warrants good title to you in the Deed, the Seller may not have the money to pay your losses if a problem arises. When an Owner’s Policy of Title Insurance is purchased, you have the financial power to protect your interest in the property against loss from covered claims.

4. The Owner’s Policy of Title Insurance may cover more than just ownership.

Depending on the type of policy issued, coverage insuring against loss due to disputes over boundaries, access rights and easements may be provided to you. Ask about available options for extended or expanded coverage.

5. A Lender’s Mortgage Title Policy does not cover you.

Your Lender has required you to pay for a Lender’s Mortgage Policy of Title Insurance, but that policy only provides insurance to the Lender. A homeowner is not covered, and cannot make a claim, under a Lender’s Mortgage Policy of Title Insurance.

6. The high cost of claims.

Title disputes are not cheap. Are you prepared to pay a lawyer to fight for you in court? Title Insurance includes coverage for legal expenses which may be necessary to investigate, litigate or settle an adverse claim.

7. Coverage for a one-time premium.

The premium for an Owner’s Policy of Title Insurance is only paid once and covers you for as long as you hold an interest in the title to your home. The coverage automatically continues and could benefit your heirs as well.

With an Owner’s Title Insurance Policy not only are you buying a new home, you are investing and protecting your financial investment. Contact Us today for additional information.

black line