About Title Insurance
Why Buy Title Insurance?
Owning real estate is one of the most precious values of freedom in this country. When you make a large investment like buying a house, you want the assurance that the property you are buying will be yours once the sale is complete. Other than your mortgage holder, no one else should have any claims or restrictions against your home.
A title is issued after a careful examination of the public records, but even the most thorough search cannot guarantee that there are no title faults. Despite the knowledge and experience of professional title examiners, some details can remain out of the public’s eye, especially when they’re hidden intentionally. Also, other title problems may exist that cannot be disclosed through public records.
So how can you protect yourself? Two words: Title insurance.
Title Insurance vs. Other Insurance Policies
Title insurance eliminates any risks and losses caused by faults in title from an event that occurred before you owned the property. It’s different from other types of insurance such as auto, life, or health, which cover you against losses that may occur in the future. Title insurance protects you—the insured—from a loss that may occur from matters or faults from the past.
Keep in mind that it does not protect against any future faults. This unique form of insurance is designed to secure your real estate purchase by shielding you from liability to risks or undiscovered interests that were unknowingly present at the time of purchase.
Another distinction with title insurance is that you pay a one-time premium for a policy that remains effective until the property is sold to a new owner—even if that doesn’t occur until decades after your purchase! It’s a one-time purchase for up to a lifetime of coverage.
To learn more, give Action Title Services a call at 239-262-2200! Our office is located right off of Tamiami Trail in Naples, Florida. With 30 years in the Title Insurance business, we guarantee you’re in great hands.