Is Title Insurance Ultimately Worth It?


Purchasing title insurance is a vital step to take when buying a home.

A home is one of the largest purchase you’ll ever make. In fact, as one of the largest investments you make in a lifetime, there are a lot of costs associated with the transaction. From closing costs to furnishing the space, there are plenty of costs associated with it. When every dollar counts, adding title insurance may seem like an additional expense that isn’t necessary. However, that is not the reality. Why spend money on title insurance? Here are the important reasons for purchasing title insurance particularly when you don’t think it’s important.

A Title Defect Can Ruin Everything

Your home is something that you own- until it no longer is. In fact, there are many homeowners who are shocked to learn that they have to share their property with someone else. Most properties have some form of easements that actually gives any non-owners certain legal rights to access a specific and defined tract of land for a certain use. Easements don’t actually prevent homeowners from using the land, unless of course it interferes with the easement holder’s use of the actual property. That is why it is so important to know how these types of easements may affect you and your new home.

Keep Your Ownership Rights Protected

When you finally sit down to do the math, an owner’s title insurance policy is totally worth it. In fact, the one-time premium protects you and your ownership rights to your property against any past mistakes associated with your home! This investment is important to protect, which is why title insurance is that protection that every homeowner needs.

Bottom Line

At the end of the day, it is important to take the time to understand your ownership rights to your new home. In fact, being a homeowner means that you stay up-to-date on all things associated with your home. As a result, having an owner’s title insurance policy is integral to your homeownership journey.

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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