Buying a home is an exciting milestone. To buy your home with confidence, owner’s title insurance is an important step. Here’s why it’s so important for you.
Protects Your Largest Investment
A home is often the largest investment you’ll ever make. You insure everything else that’s valuable to you—your life, car, personal property, health, pets, jewelry, etc.—so why not your largest investment? For a one-time fee, owner’s title insurance protects your ownership rights for as long as you or your heirs* own the home.
Reduces Your Risk
Even after closing, hidden issues can surface that affect your ownership. Owner’s title insurance helps protect you from legal ownership issues. Don’t think it will happen to you? Think again. Here are just some of the many situations that you’ll be protected from if you have owner’s title insurance.
Unexpected ownership issues, such as:
- Forgery – for example, the seller misrepresents the identity of the person selling the property.
- Fraud – for example, someone steals your identity and either sells your house without your knowledge or consent, or takes out a second mortgage on the property and walks away with the money.
- Clerical error – for example, an unforeseeable discrepancy in the property or fence line causes confusion in ownership rights.
Unexpected title claims, such as:
- Outstanding mortgages and judgments, or liens against the property because the seller didn’t pay required taxes
- Pending legal action against the property that could affect your ownership
- An unknown heir of a previous owner who is claiming ownership of the property
You Can’t Beat the Value
Owner’s title insurance is a one-time fee that’s very low relative to the value it provides. It typically costs around 0.5% of a home’s purchase price.*
Covers Your Heirs*
As long as you or your heirs* own your home, owner’s title insurance protects your property rights.
Nothing Compares
Home insurance and warranties protect only the inside of the home. Getting owner’s title insurance ensures your family’s property rights stay protected.
8 in 10 Homebuyers Agree
Each year, more than 80% of America’s homebuyers choose to get owner’s title insurance.
Peace of Mind
If you’re buying a home, owner’s title insurance lets you rest assured, with the knowledge that you won’t be stuck with certain existing debts or legal problems once you’ve closed on your new home.
*This blog post offers a brief description of insurance coverages, products and services and is meant for informational purposes only. Actual coverages may vary by state, company or locality. You may not be eligible for all of the insurance products, coverages or services described in this post. For exact terms, conditions, exclusions, and limitations, please contact Eagle Title.