For a low one-time premium your home will be protected against hidden risks or undiscovered interests, such as liens, claims or encumbrances. Owning real estate is one of the most precious values of freedom. When you buy a home, you want to be sure the property is properly conveyed and free from unexpected adverse interests. Once purchased, title insurance remains in effect for as long as you own your home, adding security and peace of mind to home ownership. Most kinds of insurance are self-explanatory.
Fire insurance protects against losses from fire.
Collision insurance guards against the cost of a dented, damaged car. Real estate has always been considered a valuable possession. It is so basic a form of wealth that many special laws have been enacted to protect ownership of land and the buildings which stand on the land. You should realize whenever you buy property that the owner who is selling it to you has extremely strong rights, as do his family and heirs. These may be governmental bodies, or contractors who performed work on the property, or other individuals who have perfectly proper unpaid claims against the property.