3 Benefits of Buying Title Insurance
We know that title insurance protects you from losing your home, being liable for liens, and losing part of your property due to an encroachment issue.
But it also brings a lot of great benefits that aren’t talked about enough. Here are three benefits of buying title insurance:
Piece of mind
There’s nothing that can help you sleep better at night than knowing if something does come up in regard to the title of your home that you’re covered.
This is because when you purchase a title insurance policy, the fee you paid is essentially a premium that facilitates the transfer of the cost of a potential loss to the insurance company. We’re not saying that all insurance companies cover every single thing no questions asked, but having coverage is certainly better than no coverage at all.
Savings down the road
While it may feel a tad bit discouraging to have to spend money on yet another type of insurance, this title insurance policy is guaranteed to save you money down the road should a title dispute occur.
Since your home is essentially the biggest purchase you make and the most valuable thing you own, the last thing you want to do is put all of that at risk as title disputes can be quite costly.
Lastly, purchasing title insurance might not guarantee that there’s ever someone who claims something against your home, but it sure does bring down the risk of that happening.
This is because when you purchase a title insurance policy, the agent goes through an intensive title research period to clear up any disputes and make sure you don’t have any liabilities dangling over your head the second you set foot in your own house.
While not all title issues may appear in public records and you may be surprised with something in the future, you can rest easy knowing that you’re covered.
If you’re looking to shop for a title insurance policy, don’t hesitate to get in touch with us.