What is Title Insurance?

Title insurance provides coverage against financial loss arising from covered defects in the title to real property. 

Understanding Title Insurance

Title insurance is a safeguard against financial loss and potential legal fees resulting from possible defects in the title of your property that your policy covers. Unlike other insurance types, title insurance emphasizes preventing risks before they occur. This is achieved by conducting thorough reviews of your property's history to resolve any title issues beforehand. Importantly, title insurance requires a one-time fee paid at closing, eliminating the need for monthly premiums.

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The Necessity of Title Insurance

Indeed, title insurance is crucial. It protects your most significant investment—your home. An Owner’s Policy offers the assurance that should any covered title issue emerge after your purchase, your title company will support you.

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Coverage Offered by Title Insurance

Even after a detailed public records search, hidden title defects can appear, posing a risk long after you've bought your home. Your Owner’s Policy covers various risks, including:

• Document execution errors

• Recording or indexing mistakes

• Forgeries and fraud

• Unrevealed or missing heirs

• Outstanding taxes and assessments

• Existing judgments and liens

• Uncleared mortgages

• Mental incompetence of deed signatories

• Fraudulent impersonation of property owners

• Title rejection by potential buyers due to its condition

Title Insurance Costs

The cost of your title insurance policy is a one-time premium that varies by state and is based on your property's value. Our Rate Calculator can help estimate your policy's cost.

Owner’s Title Insurance Explained

An Owner’s Title Policy protects against pre-existing title defects from before your policy's issuance. If a legitimate claim arises, the policy, within its terms, covers up to the policy amount.

Lender’s Title Insurance Explained

A Lender’s Policy does not cover the homeowner but ensures the lender has a valid, enforceable lien on the property. Lenders typically require this insurance to protect their investments.