You should protect the equity in your new home with a title policy. Protection from financial loss due to demands that may be charged against the title to your home, up to the face amount of the title policy. Payment of legal costs if the title insurer has to defend your title against a covered claim. Payment of successful claims against the title to your home covered by the policy, up to the face amount of the policy. Once purchased, title insurance remains in effect for as long as you own your property.
Title insurance adds security and peace of mind to home ownership.
Let the title company, attorney or agent handling the closing of your property know that you want to purchase an Owner's Title Insurance Policy. When choosing a title insurer, you should look for a company with experience, as well as the financial strength to protect you. In most states, the insurance commission or some other governmental body controls the premiums for title insurance policies. You only pay the premium once. The cost depends upon the purchase price of the property, and your policy amount must be equal to the purchase price.