Title insurance may be something that your lender tells you isn’t necessary - but it’s something you should think twice about NOT purchasing. 

If you’re skeptical about whether or not you need title insurance, here are 3 things you may not know about title insurance - and that may help put those doubts you have about it to bed.

1. You can purchase it at any time

If you weren’t aware that title insurance was something you needed to look into when you purchased your home, don't worry - it’s not too late!

This happens a lot more often than we think, as not all lenders require homeowners to purchase it before they close on their homes.

You can still purchase a policy with a title insurance agency even if you’ve bought your home YEARS ago. All you need to do is get the process started.

2. It protects you both from the past AND the future

If you did buy title insurance when you closed on your home, then you’re protected for everything that may have happened BEFORE you got the keys to your home and that may come back to the surface years AFTER you are settled in. While an agency would have done some research to clear out anything that was being held against the title of your home before you got the keys, things can unfortunately still come up out of the blue.

3. It covers new construction

Believe it or not - even new construction can encounter some title disputes! Whether it’s the property that was on the land before being put down to build your new home or the land itself, there is a possibility that someone comes knocking on your door saying the new house you just finished building is theirs. Luckily, if you have title insurance, this is a situation that can be prevented either by a title search beforehand OR that can be taken care of after the fact (such as when someone pulls up in your driveaway saying they own your home).

If you have any additional questions about title insurance and what type of coverage would be best for you, get in touch with us.