Should I Purchase Owner’s Title Insurance?


When you purchase a property, it’s important to make sure that everything is in order. That includes things like title insurance. This type of insurance protects you from any potential legal issues that may arise with the property, such as someone claiming ownership after you sell it. In this blog post, we will explore the pros and cons of purchasing owner’s title insurance and give you some tips on whether or not it’s a good idea for you.

What is Owner’s Title Insurance?

Title insurance protects the title of a property against any challenges to its ownership. The owner’s name is placed on the title document, which acts as proof of ownership. If someone tries to take your property without following proper procedures, they may be met with resistance if the title is properly protected.

There are two main types of title insurance: general and specific. General title insurance covers all risks to the title of a property, while specific title insurance only covers certain risks, such as claims made by previous owners or heirs to an estate. Both types of insurance have their own benefits and drawbacks, so it’s important to choose one that will fit your needs.

One consideration when purchasing title insurance is the cost. While general title insurance is cheaper overall, it may not cover certain risks or cover them for a longer period of time. Specific title insurance can be more expensive, but it will cover more risks and may have shorter coverage periods. It’s important to compare prices and decide which type of protection is best for your situation.

Another factor to consider is who will be responsible for paying for the policy if something happens to the property’s title. This can be a tricky question since it depends on the particular situation. If you’re buying a home outright, you likely won’t need Title Insurance since you’ll be the legal owner upon closing escrow. If you’re buying a home with someone else who has an existing mortgage or loan on it, Title Insurance may be necessary in order to protect your interests.

Finally, it’s important to know that title insurance doesn’t protect you if someone commits a crime in relation to the property. For example, if someone breaks into your home and steals some items, title insurance won’t help you get your property back. You’ll need to contact the police and try to pursue criminal charges.

ALSO READ  Top Mistakes When Insuring Teen Drivers

Types of Coverage

Title insurance is a type of insurance that protects the owner of a property in the event that someone else claims ownership of it. This insurance can help to ensure that the rightful owner is paid if the property is sold, inherited, or leased. There are several types of title insurance, each with its own specific benefits and costs.

Most homeowners should purchase title insurance when they buy a home. Title insurance helps protect you from potential problems down the road, such as disputes over who owns your home and whether you can sell it. Title insurance also protects you if you want to lease or rent out your home.

Title insurance policies vary in price and complexity, but all cover different parts of the real estate transaction process. Some cover only title transfers (such as when you sell or lease your home), while others include coverage for loss or damage to your property caused by third parties (such as burglars). Most policies also have deductible amounts, which reduce the amount of money you pay out if something goes wrong.

To get the most value out of your title policy, it’s important to choose a policy with comprehensive coverage and a low deductible amount. Comprehensive coverage includes coverage for everything from lost keys to lawsuits against you or your tenants. A low deductible amount means that you won’t have to pay anything out-of-pocket should something happen during the policy period. 

ALSO READ  Guidelines on Selecting a Public Liability Insurance Company

Pros and Cons of Purchasing Owner’s Title Insurance

There are many pros and cons to purchasing owner’s title insurance. Pros of buying owner’s title insurance include the following:
-If you’re ever unfortunate enough to have your property seized or bankruptcy filed against you, having a clear title will help protect your assets because it will show that you legally own the property.
-Title insurance can help cover the cost of repairs or renovations if the title to your property is unknown or contested.
-It can also help protect you if someone tries to sell your property without properly listing it with the appropriate authorities.

Cons of purchasing owner’s title insurance include the following:
-Some people feel that ownership of a property is more personal than legal, and don’t feel as secure with titles in place that show they are only partial owners.
– Title insurance can be expensive, so it may not be affordable for everyone.


One of the biggest costs associated with owning a property is the cost of title insurance. This policy protects you and your partner (if applicable) from any issues that could arise with regards to who owns what on the property. Some things to keep in mind when thinking about whether or not title insurance is right for you include: how much money is being spent on maintenance, who will be responsible for repairs if something happens, and whether or not there are any liens or pending lawsuits against the property. If you’re unsure about purchasing owner’s title insurance, speak to a real estate agent who can help guide you in the right direction.