The Title Insurance Policy is an important part of every transaction because it protects you from any future liability if there was a claim that was missed in the title search. There are two types of title insurance policies typically purchased during a real estate transaction. The first, for the buyer, protects you and is usually paid for by the seller. The second, for the lender, protects them from the same situation and is typically paid for by the you, the buyer.

How much does Title Insurance Cost?

A Title Insurance Policy is based on the amount of the loan, the home’s value and any local and state fees, and is purchased at the time of closing.

Title Insurance vs Home Warranty vs Homeowners Insurance

While Title Insurance protects your ownership rights, you will likely be required to purchase homeowners insurance and in some cases you may also receive or purchase a Home Warranty. If you were wondering what the difference was between them all, we can help!

A Home Warranty is usually paid for by the Seller in good faith that should any problems occur in the home after the sale and to make their home more attractive to home buyers by providing buyer confidence. This may include coverages that may help you repair or replace small appliances and other home systems like your furnace or roof depending on what the purchaser selects.

A Homeowners Insurance policy is usually required by your lender when you take out a mortgage and protects your home from issues after the closing including water damage, fire damage or theft.