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5 Factors to Consider When Choosing Title Insurance Providers

Monday, October 5, 2020

Are you looking for ways to protect yourself and your real estate from an unforeseen title issue? Do you want assurance that you have sole ownership of your title? If so, then you need to look into title insurance providers for your needs.

Doing so can help prevent a scenario in which you suffer a financial loss from a title defect or other problem with gaining property. Choosing title insurance can ward off all of those worries, but it's up to you to find the right provider.

See below for several different factors that you should keep an eye out for while you choose between title insurance providers.

1. Fees on the Cost of Insurance

You're in search of title insurance as a protective measure. It's the final piece to ensuring your property stays under your title, protecting you from any unorthodox title issues. In other words: you hope you never actually need to use it.

Some title insurance providers like to take advantage of this by using scare tactics to increase their prices. Some try to disguise their costs by adding additional fees.

These might be fees such as E Doc preparation fees, settlement fees, incoming wire fees, document prepping fee, or an express fee to return loan documents. 

When you search for title insurance providers, you want to find a company that's willing to wave all of those fees. Simply put: if a company is going to charge you all those fees, then cross them off your list. Don't let them try to justify charging you for them.

Be sure to find a trusted title insurance provider that's transparent about the cost of their policies and waives all those unwanted fees. That way, you're getting the maximum return on your investment without paying hundreds of more dollars to do so.

2. Offers Different Policy Levels

Not everyone has the same needs when it comes to title insurance. Some have more complicated title situations that require more coverage.

These might be things such as a mechanic's lien, forced removal of a structure, the payment of rent for substitute land, subdivision law violations, and so on.

Then others only need the base level of title insurance coverage. They shouldn't have to pay as much for a more dialed-back version of coverage.

For that reason, you must look into a title insurance provider that offers different levels of coverage. That way, you can ask about the details of each and line yourself up with the policy that you require.

If you're not sure how much coverage you need, then the title insurance provider will be happy to lay it out for you and help you find the best fit.

3. Prompt Deliver As Needed

One of the biggest aspects of hiring the right title insurance provider is knowing they offer prompt delivery as needed.

There are many important deadlines that you will need to meet during a home sale, and you need to know the title insurance provider will meet them.

Without an on-time delivery of needed documents, the entire closing process could be put on hold. Make sure that you find a company that's dedicated to sending out necessary documents without any setbacks. 

4. Positive Online Reviews

If you're unsure of where to start looking for your title insurance needs, there are always two tools at your disposal: references and reviews online.

First, you can search online to find reviews that were written up by previous and current clientele of any specific title insurance provider. 

Be sure to pay attention to both the overall ratings that the consumers gave the provider, as well as the comments that they left. These will help give you a peek behind the curtain of what it's like to have them as a title insurance provider.

Were the client's needs met on time? Were they satisfied or disappointed with the delivery of documents from the provider? Do they have any comments about the price of the policy?

If you still need more insight from previous and current customers, you can always as the title insurance company for a few references to call.  A trusted provider will be happy to connect you with their satisfied clients.

There you can ask about the client's experience with the company, how long they've done business with them, and how confident they are in the provider's services.

5. Search for Experience

Before you sign the dotted line for a title insurance provider, you want to make sure you're working with an experienced company.

The more years of service that they have, the more you can rely on their experience and know-how in key moments during the closing process.

More importantly, an experienced title insurance company can help put complicated real estate jargon in terms that you can understand. They'll be happy to guide you through any stage of the process, helping you prepare for any situation.

There's nothing an experienced title insurance company hasn't seen before. No matter what problems or complications you face, they'll have services to help you face them head-on.

Choosing Title Insurance: Find the Right Provider

Now that you've seen several key factors to look for when choosing title insurance for your property, it's time for you to start your search.

Be sure to read this page for an in-depth look at Heartland Abstract's Standard and Enhanced policy options, and which one is the best fit for your needs.

For more inquiries, please feel free to reach out via our contact us page and we will be happy to assist you further.

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