Title insurance for homebuyers protects their property rights. For the same reasons that the bank requires a lender’s insurance policy, a homebuyer obtains homeowner’s title insurance to protect their legal claims to the property.
Complications with a title for a property may not happen all the time, but they do happen and can be costly. Rather than taking the risk of assuming that no complications will happen, as a homeowneer, it’s better to be covered.
A home is one of the biggest assets that you will ever own. Protect yourself and your financials by factoring the cost of title insurance in with the rest of closing costs.