What is Title Insurance and why does it matter?

When you buy a home, you want peace of mind knowing it’s truly yours. Title insurance protects you from unexpected surprises that could threaten your ownership—things like:

Protection Against Hidden Title Issues

• Fraud & Forgery: Covers you if someone in the chain of ownership forged a signature or committed fraud that affects the property’s title.

• Unknown Heirs: If a long-lost heir comes forward claiming rights to the property, title insurance helps protect your ownership.

• Clerical Errors: Mistakes in public records (like misspelled names, incorrect legal descriptions, or filing errors) can cause title problems.

Financial Protection

• Legal Costs Covered: If a dispute arises, your policy will often cover the legal defense costs.

• Loss of Value: If you lose ownership or part of your property due to a covered title defect, title insurance compensates you.

Peace of Mind

• Once you’ve purchased title insurance, it’s a one-time premium (not ongoing like home or auto insurance).

• Protection lasts as long as you own the home (and in some cases, even after you sell, for warranties you gave).

• Gives you confidence that your ownership rights are secure.

Lender vs. Owner’s Coverage

• Lender’s Policy: Protects the mortgage lender’s interest in the property (usually required by lenders).

• Owner’s Policy: Optional, but strongly recommended—it protects your equity and ownership.

Estimated cost of coverage

Combined cost for both the Lender's Policy and Home Owner's Policy is typically less than $350. And remember this is a one-time fee, not an ongoing cost. If you wait to apply coverage after taking ownership of your new home, you won't get the same discount later.

In short: Title insurance shields you from unexpected legal and financial claims against your home, and unlike most insurance, you only pay once for lifetime coverage.