The Importance Of Title Insurance

It's time to consider title insurance.

Title insurance can protect you from past title issues.

An owner’s title insurance policy is critical. In fact, it’ll be your best protection against potential defects that may remain hidden for decades. Even with a thorough title search and examination, there are issues that may arise. Instead of losing the ownership to your home, protect them with a title insurance policy. Here are some other things that any homeowners should know about title insurance and how integral it is in any real estate transaction.

Protects You Against Forged Deeds

Whether it’s a mortgage, deed or public record error, there are a variety of protections afforded to homeowners who have invested in an owner’s title insurance policy. But many are unsure of what exactly a title insurance policy is and how it works.

So What Exactly Is Title Insurance?

Typically, insurance policies protects future interests. In fact, just think about car insurance. A car insurance policy will ultimately protect the driver from any future costs associated with a future car accident. However, title insurance doesn’t work that way. With title insurance, the protection a homeowner receives is against past claims and errors.

But Who Does Title Insurance Ultimately Protect?

There are two different types of title insurance policies: an owner’s policy and a lender’s policy. When it comes to a lender’s title insurance policy, a bank or mortgage lender will typically require homeowners purchase this type of policy to protect their interests in the property. But, that doesn’t actually protect the owner which is why an owner’s title insurance policy- which is optional is important for homeowners.

What Are All The Costs Associated With Title Insurance?

Again, unlike traditional insurance policies, title insurance doesn’t require a monthly payment. Instead, homeowners end up paying for their title insurance policies at the time of closing. As a result, there is simply a one-time payment and homeowner can have peace of mind that they are protected against anything that may arise from the past regarding their ownership rights to their home.


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, Twitter, LinkedIn, and Google+



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