What is Title Insurance?
Title insurance is a type of insurance that protects you as a property owner as well as your mortgage lender against losses related to the ownership of property. There are two types of title policies; the lender policy, which protects the mortgage lender, and the owner policy, which protects you as a homeowner. As a buyer you can decide if you would like to purchase a standard policy or an enhanced policy to protect your property. Lender’s policies are required for all properties purchased using a mortgage lender. Owner’s policies are optional but highly recommended as an owner’s policy is the best way to protect your ownership interests in your home.
Unlike homeowner’s insurance which protects you against things that will happen in the future, title insurance protects you primarily from things that happened in the past and gives you peace of mind knowing your home is safe and secure.
How Much Does Title Insurance Cost?
Title Insurance is purchased at closing for a one-time fee that will protect you for as long as you own the home.
The cost of title insurance is state regulated and based on the purchase price . To get an idea of what the title insurance premium will be on your next purchase use our title insurance calculator below.