Owner’s title insurance is meant to protect your ownership interest in your home. Subject to the terms of your policy, owner’s title insurance protects you against losses incurred due to any title defects that existed prior to the purchase of your home.
Your owner’s title policy offers insurance protection for as long as you own your home. To the extent of the matters covered in the policy, an owner’s title insurance policy will protect you in the event a legal challenge is made to the ownership of your home.
Do I need Title Owner’s Insurance?
Buying a home is one of the biggest decisions and financial investments you’ll ever make. To the extent of the matters set forth in the policy, an owner’s title insurance policy provides certain protections in connection with title mistakes and irregularities that occurred prior to the issuance of the policy. Dollar for dollar, it’s one of the most cost-efficient forms of insurance for homeowners. The relatively low, one-time title insurance premium covers you against pre-policy title defects that could otherwise cost tens of thousands of dollars and even the loss of your home, for as long as you own your home.
Buying a home is an exciting and emotional time for many people. To help you buy your home with more confidence, make sure you get owner’s title insurance. Here’s why it’s so important for you.
Protects Your Largest Investment
A home is probably the single largest investment you will make in your life. You insure everything else that’s valuable to you-your life, car, health, pets, etc., so why not your largest investment? For a one-time fee, owner’s title insurance protects your property rights for as long as you own your home.
Reduces Your Risk
If you’re buying a home, there are many hidden issues that may pop up only after you purchase your home. Getting an owner’s title insurance policy is the best way to protect yourself from unforeseen legal and financial title discrepancies. Don’t think it will happen to you? Think again.
You Can’t Beat The Value
Owner’s title insurance is a one-time fee that is very low relative to the value it provides. It typically costs around 0.5% of the home’s purchase price.
As long as you own your home, owner’s title insurance protects your property rights.
Homeowners’ insurance and warranties protect only the structure and belongings of your home. Getting owner’s title insurance ensures your family’s property rights stay protected.
8 in 10 Homebuyers Agree
Each year, more than 80% of America’s homebuyers choose to get owner’s title insurance.
Peace Of Mind
If you’re buying a home, owner’s title insurance lets you rest assured, knowing that you are protected from inheriting most existing debts or legal problems, once you’ve closed on your new home.