It’s a risky business.
A policy on the deed of your home, this one-time expense protects you from anyone who challenges your ownership because of an event that occurred with the previous owner.
Think forgery, fraud, lost wills, mistakes in descriptions, illegal trusts, undisclosed or missing heirs, and more. If you don’t have homeowner’s title insurance, you are not protected from many of these common misdeeds. However, the bank’s policy will protect them…and you paid for it!
Benefits of Homeowner’s Title Insurance
Because for many people, the biggest investment of their lifetime is buying a home, it makes sense to protect such a valuable purchase.
With homeowner’s title insurance, you’re protected from future losses if a claim is made against your property. Unlike car or health insurance, the premium is a one-time payment that protects for as long as you own the home.
Basically, homeowner’s title insurance protects you from what isn’t legally recorded by law. It gives you peace of mind!
Additionally, if you decide to sell your home, it can protect you from financial loss for covered risks. In most cases, it ensures that your mortgage is the only lien against the property.
Lenders understand the tremendous value of this insurance. It’s why they have buyers purchase it.
To learn more about the homeowner’s title insurance we offer and what it can cover, click here.
You’ve worked hard to save money to buy your home. Protect it!