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For many people, title insurance seems like an extra expense in the already pricey undertaking of purchasing a home. Escrow funds, realtor fees, paying for inspections, fees for property taxes, the title search fee…why would you want to tack on yet another expense? A fair point—unless you understand what you could lose if an unexpected claim is filed against you and you have no protection. Understanding what title insurance is and what it covers makes it clear why it just might be the most important piece of your new home purchase.

Title insurance protects you from all unforeseen claims arising against your property. What kind of claims, you may ask? They can come in the form of probate issues, liens against the property or even old fashioned forgeries. Though it may seem like something that only happens to other people, the same could be said of home burglaries and serious car wrecks. Additionally, if your new home was foreclosed on at any point before you took ownership, there’s an increased chance of claims against the property, from unpaid contractors to the prior owner’s nasty divorce.

Here’s an example of something that COULD happen. You just purchased your dream house and are moved in. Then comes a knock at the door—uh-oh, it’s a contractor who installed new windows for the previous owners claiming he never got paid. Or how about this scenario; suppose the previous owners are going through a divorce and one party forges the other’s name on all the selling documents. The other spouse, whose name was forged, could come back to you and claim the house was sold under false pretenses and try to get it back from you. Now you have a claim against your home. This means going to court to fight the contractor, which means you incurring a large fee for attorney costs. And then there’s the chance that you’ll lose your house, and then what will you do?

A house is one of the largest investments you can make, and to have it all go up in smoke with nothing to show for it can be a devastating blow. That’s where title insurance comes in to protect you from the unexpected. There’s a good reason why lenders require you to buy a lender’s title insurance policy when you purchase a home…so why not follow the lead of the financial experts and protect your own assets with an owner’s title insurance policy? With title insurance you are protected!


At Title Junction we care about helping you stay informed throughout your real estate transaction. Have questions? Give us a call at 239.415.6574.

In case you missed it, check out our last Title Junction post: What Is Power of Attorney?

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