Question:

Why should I buy home owners title insurance?

Answer:

Home owners title insurance policies protect the owner of the property from claims arising from undiscovered ownership defects, and encumbrances. Losses and damages from title turned out unmarketable are also covered by most standard title insurance policies. Additional coverage and protection to the policy holder is provided through standard and special endorsements. The liability limit of the homeowner's title insurance policy is usually the property value.

Buying Homeowner's Title Insurance Coverage Is Recommended Only

It is not obligatory to buy owner's title policy; only lender's policy is demanded, even on refinances with the same lender. Title insurance costs will vary for different property value and among states. Also, the homeowners title protection policy costs may be spread between the seller and the buyer sometimes.

Before signing a title policy, try researching the subject a little. A loan officer, or real estate agent can explain to you what home owners title insuring is done for, and could recommend a title company.

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