Why title insurance? Title insurance is really important because it protects your interest in the property for as long as they own the property and even helps you after you sell. It’s a one time premium and it covers things you can’t see when you do a title search such as fraud, forgery, missing heirs, something in the chain that isn’t anticipated that comes up later.
What it does, it protects you so that if something does come up, you have a phone number to call. It’s a big title company, so that if the closing attorney … It could happen in 30 years from now. If the closing attorney just isn’t there, then you have somebody to contact. You can call the company and they will look into the claim and they actually pay for the litigation of any claim.
It’s just really important to make sure that owner’s title is purchased at closing along with the lender’s title. If you’re getting a loan, it ends up being very inexpensive to purchase. It’s just like I said, a one time premium, so it’s well worth it. If you have any further questions, they can contact me, Steph Horne at 502-409-5044 at OneTitle. Just reach out. I’m happy to discuss it further.