One of these could put your ownership of the property in question, even after you've purchased. Examples of these types of defects are forged deeds, lack of both spouses executing deeds, claims of undisclosed heirs, fraud, clerical errors. Title insurance secures your title to the property and protects from hidden defects. The insurance company will defend your title in court and the insurer agrees to pay all costs of this defense. You pay a modest one-time premium for title insurance and the protection continues in effect forever, even after you sell your home.
Title companies charge the same rate for insurance as our office.