Title Insurance Information

Protect yourself against hidden title hazards.

Other types of insurance coverage focus on possible future events and charge an annual premium - such as flood insurance or hazard insurance that safeguard against loss from fire, theft, or wind damage. Title insurance protects against loss from hazards and defects already existing in the title and is purchased with a one-time premium.

A separate owner's policy is the best policy.

Owner's title insurance lasts as long as the policyholder or his or her heirs has an interest in the property - maybe even after the homeowner has sold the property. It is either purchased for an additional premium or an owner may pay a simultaneous issue charge (usually a smaller amount) for the separate lender coverage.

Why title insurance?

Title insurance was created in 1871 to enable speed and efficiency when property is conveyed. Because of title insurance, real estate is more marketable and thus more valuable. It has worked so well to protect buyers and lenders against defects in legal ownership that it is spreading around the world.

Therefore, while the title industry in many states closes the transaction, handles the escrow, and records the documents, it also works to make title searches even faster, better, and more cost-effective. The role of title insurance to fix problems and pay claims is crucial to the marketability of real estate.

For more information about protecting your financial investment against hidden hazards and title insurance visit our friends at Tryon Title.