The Benefits of Owner’s Title Insurance
Buying a home is a very exciting time, but it can also be stressful. To increase your confidence during the homebuying process, it is important to get owner’s title insurance. Here are 7 reasons why every new homebuyer should take this step.
Owner’s Title Insurance Protects Your Biggest Investment
A home is likely the largest single investment you will ever make. Just as you would insure anything else important to you, such as your car, pets, and health, it is important to protect your home. A one-time fee will protect your property rights to your home for as long as you or your heirs own it.
It Protects You from Unexpected Risks
There are unexpected issues that can arise long after you purchase your home. These issues can include:
- Outstanding mortgages, judgments, or liens on the property, for example due to the seller not paying their taxes.
- Any legal action pending against the property.
- A previously unknown heir of a former owner claiming they own the property.
While you may think these issues won’t happen to you, an owner’s title insurance policy is the best way to make sure you are protected in case they do.
It’s a Great Value
For the protection it offers, owner’s title insurance is a relatively inexpensive one-time fee. It usually costs about 0.5% of the total purchase price of your home.
It Protects Your Future Heirs
This insurance protects not only you, but also your future heirs who inherit the house for as long as they own it.
It’s the Only Insurance of its Kind
80% of American Homebuyers Agree
Every year, 8 in 10 homebuyers in the US choose to get owner’s title insurance.
It Gives you Peace of Mind
Once you’ve bought your new home, you can relax knowing that you and your family are protected against any unforeseen issues you may have inherited from previous owners.
Contact Two Rivers Title today for more information about owner’s title insurance.