Do you really need title insurance?

Buying a home is one of the most important decisions you make in your lifetime. It is a large investment with many closing costs. You may find yourself asking “do I really need title insurance?”

home title

What is Title Insurance?

Title insurance is an important form of protection against financial loss related to potential problems, including fraud or falsified deeds. As your title company, we’ll research your property to ensure a clear title. If the search reveals any issues, like incorrect signatures on documents, defective records, judgments against the property, or any outstanding lawsuits, you will be protected. There are two types of title insurance: lender’s title insurance and owner’s title insurance. They provide the same type of protection but cover different parties.

Lender’s Title Insurance

A lender’s title policy protects the financial institution providing your mortgage from title claims that would put their stake in your home at risk. This policy is typically considered a closing cost.

Owner’s Title Insurance

You can secure the additional protection of an owner’s title insurance policy. This insurance purchase protects a buyer against defects in the title. It’s an extra expense but, if an issue arises, the lender’s policy that you’re already paying for won’t protect you.

Peace of Mind

When you purchase title insurance, you are buying peace of mind. You just pay for title insurance once, and your coverage will last as long as you own the house. Purchasing title insurance for a one-time fee will give you the protection you need to avoid incurring the previous owner’s debts or even risk losing the home.

Your Local Title Company

Here at Armour Title Texas, we always put our customers first. We have rapid turnaround times, online title closings, and 24/7 service, and have earned a reputation as one of the most reliable title companies in Texas. Are you interested in learning more about title insurance and getting a policy set up for yourself? Contact us today, and we will be happy to answer any questions you may have.