1. Protects Your Largest Investment
A home is probably the single largest investment you’ll make in your life. You insure everything else that’s valuable to you—your life, car, personal property, health, pets, jewelry, 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 or your heirs* own the home.
2. Reduces Your Risk
If you’re buying a home, there are many hidden issues that may pop up after purchasing it.Getting an owner’s title insurance policy protects you from legal title discrepancies. Don’t think it will happen to you? Think again. Here are just some of the many situations that you’ll be protected from if you have owner’s title insurance.
Unforeseeable title claims, such as:
Forgery: making a false document
– For example, the seller misrepresents the identity of the person selling the property.
Fraud: deception to achieve unfair gain
– For example, someone steals your identity and either sells your house without your knowledge or consent, or takes out a second mortgage on the property and walks away with the money.
Clerical error: inconsistent paperwork and historical records
– For example, an unforeseeable discrepancy in the property or fence line causes confusion in ownership rights.
Unexpected title claims, such as:
Outstanding mortgages and judgments, or liens against the property because the seller didn’t pay required taxes
Pending legal action against the property that could affect your ownership
An unknown heir of a previous owner who is claiming ownership of the property
3. You Can’t Beat the Value
Owner’s title insurance is a one-time fee that’s very low relative to the value it provides. It typically costs around 0.5% of a home’s purchase price.
4. Covers Your Heirs*
As long as you or your heirs* own your home, owner’s title insurance protects your property rights.
5. Nothing Compares
Home insurance and warranties protect only the inside of the home. Getting owner’s title insurance ensures your family’s property rights stay protected.
6. Seller Pays It Forward
The seller pays for the buyer's owner's title insurance policy, providing you with the same protection and peace of mind they received when they bought the property.
7. Peace of Mind
If you’re buying a home, owner’s title insurance lets you rest assured, with the knowledge that you won’t be stuck with certain existing debts or legal problems once you’ve closed on your new home.
For exact terms, conditions, exclusions, and limitations, please contact your Insured Titles Office.