Title insurance is designed to protect you from any financial loss that may result from title defects, liens or other issues related to the property. Title insurance companies provide coverage for potential losses due to these issues, so if you need to make a claim, you can get reimbursed for any losses incurred.
Title insurance provides protection against any potential issues that may arise from the legal ownership of your property. It also covers for any claims that may be made against you because of a previous owner's actions or if there is any challenge to your legal ownership. Purchasing title insurance helps protect you financially should these kinds of issues occur and can provide peace of mind when making such an expensive purchase. Additionally, it can help speed up the process of acquiring a mortgage since lenders are more willing to lend money when they know their borrower has the proper title coverage in place. Ultimately, title insurance helps ensure that you are legally secure in your new home and protects you from costly disputes or legal battles.