4 Important Reasons Homeowners Need An Owner’s Title Insurance Policy

Real estate concept

Have you just purchased your first home and are still confused about the different insurance policies? In this post, you will get some help when dealing with different insurance policies.

Buying a home is a huge investment. In fact, it can be an extremely exciting and emotional time for many. However, navigating the real estate world can be difficult. Gaining confidence with the whole ordeal is easier than you might think. Make sure you have an owner’s title insurance policy –– here’s why it is so essential within the home buying world. 

Protect Your Largest Investment

The home is most likely the single largest investment that you will ever make in your entire life. In fact, a title insurance policy will ensure that everything else that’s valuable –– your home is insured. You ensure things like your car, health, and life, so why wouldn’t you want to take that same mindset towards your home. With a simple one-time fee, an owner’s title insurance policy will ultimately protect your property rights for as long as you own your home.

Ultimately Reduces Your Risk

If you are buying a home, there is nothing worse than finding out that there are hidden issues with the property. These may pop out long after the settlement process has ended. In fact, getting an owner’s title insurance policy is basically the only way that you can protect yourself from an unforeseen legal and financial title issues that may occur in the future. And if you don’t think it can happen to you –– think again!

There Is No Beating The Value

Ultimately, an owner’s title insurance policy is affordable. In fact, owner’s title insurance is a one-time fee that is incredibly low relative to the immense value that it actually provides. It typically costs around .5% of the home’s purchase price and is paid at the time of settlement.

Doesn’t Forget About Your Heirs

At the end of the day, an owner’s title insurance policy will also protect your heirs’ property rights. In fact, as long as either you or your heirs own the property in question, an owner’s title insurance policy will protect your property rights.

A Title Company You Can Trust: Colony Title

At Colony Title, we will help you through the process of getting your property’s title and help you avoid the pitfalls of hidden costs while you buy your home. We are also well trained in identifying any and all errors in public records and helping you resolve them. We specialize in real estate title insurance in both Maryland and Washington, D.C., and we will perform an expert title search, check through all past documentation, and examine records for any fraud or forgery. For more information on how we can get you into the home of your dreams, contact us online or give us a call at (410) 884-1160. To get more updates on housing markets and how to get into your home, follow us on Facebook, Twitterand LinkedIn.

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