Insurance
Title Insurance
A one-time insurance policy that protects against financial loss from defects in the property's title that were not discovered during the title search. There are two types: lender's title insurance (required by the lender) and owner's title insurance (optional but recommended). Title issues can include unknown liens, errors in public records, or forged documents. The premium is paid once at closing and protects you for as long as you own the home.
Why It Matters
Title Insurance is part of the safety net that protects your investment in a home. While insurance adds to your monthly costs, going without adequate coverage puts your finances at serious risk.
Review your insurance needs carefully before and after closing. Understanding what title insurance covers and what it does not helps you make smart decisions about the level of protection you need.