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5 Reasons to Get Title Insurance

Monday, October 4, 2021

Are you worried that your new home might have someone else out there that can claim a title to it? Do you see the merit in going through records to find any potential defects, but don't feel equal to the task. If so, then you need to learn all that you can about title insurance right away.

Title insurance is incredibly important coverage that can protect you from any issues or defects with your property's title. After the title is transferred, your title insurance will protect you from setbacks.

See below for an in-depth guide listing all of the reasons you should invest in title insurance for your new property.

1. Protection for the Future

Imagine the horror of living in your property for 2 to 3 years, then having someone come along that claims to have a property lien on your home. 

With proper title insurance in place, you'll be able to protect yourself from any future issues related to the title of your home. If there is a title dispute in the future, your title insurance provider will be the one covering the costs.

Without title insurance, you may be forced to pay for the legal damages and/or give up your property to the owner of the property lien.

No matter what problems might arise, if any, you can have more peace of mind knowing that your title insurance provider has your back.

2. Custom Coverage Options

Title insurance can be a lifeline if a previous property owner comes knocking. However, you must take the time to find the right title insurance provider for your situation.

When it comes to title insurance cost, you want to make sure you're getting as high of a return as possible. If you go for the cheapest option, then you might sabotage the quality of your coverage in the future.

That's why it's important to find a provider that's willing to work with you. Here at Heartland Abstract, we take great pride in helping property owners find the exact amount of title insurance coverage they need.

We offer two different types of coverage: Standard and Enhanced. The Standard policy covers all of your essentials, such as:

  • Improperly signed documents
  • Restrictive covenants
  • Forgery or afraid in the chain of your property's title
  • Another party owns an interest in your title
  • Deed of trusts
  • Unmarketable titles

The Enhanced coverage, as the name would imply, covers all the essentials, as well as virtually any other title insurance issue. This could be inconsistent maps, building permit violations, unrecorded liens due to a mistake by the HOA, etc.

Our enhanced coverage also offers pristine benefits for our clients, such as life insurance coverage, post policy living trust coverage, paying rent for substitute land/facilities, and so on.

Which one should you choose? That's up to you! We're happy to help you navigate the needs you might have and which coverage would be best served for it.

You can give us a call at 610-326-6300 with any questions you need to be answered. We'll also take the time to listen to your situation and recommend a certain coverage based on what you tell us.

3. Title Research

No one wants to take the time and research all of the property's existing titles to find potential defects. Even if you're up for the task, your lack of training could cause you to miss an oversight or issue with the title.

Thankfully, that burden falls out of your hands when you invest in title insurance. With owners title insurance, your provider will use their resources to search title records for any potential problems or issues.

Even in the digital world we live in today, a small percentage of public records are digitized. That means sorting through piles of physical paper, reading each one carefully.

Once we've determined that there are no issues or defects in the title's history, we can get you the coverage you need and protect the future of your property. 

4. Defense for the Owner

While it might be rare, you never want to get a knock on your door from someone claiming to have a claim on your property. If that were to occur, you'd suddenly be trusted into a legal battle.

Thankfully, title insurance can help you there as well. With the right policy in place, all your legal defense needs will be met. 

Not only will you be financially protected from legal fees, but you'll also be represented by a trusted lawyer within our network; one who has experience protecting people in your situation.

5. Pay and Get Protection

Unlike so many other forms of insurance out there, title insurance differs from most in that the premium is only paid for one time.

After you apply for our standard or enhanced coverage, we'll give you a quote for the premium to receive that level of insurance. After you pay the premium one time, it's yours for as long as you have an interest in the property.

That means that after paying one sum of money, you can have full peace of mind, knowing that your title is protected by a tried-and-true service, such as Heartland.

Invest in Title Insurance for Your Property Today

Now that you have seen several reasons you should be investing in title insurance for your property, you realize it's all about finding the right level of insurance for your needs.

Be sure to visit this page to learn more information on what you should know/do before you buy or sell a property. For further inquiries, please be sure to reach out to us via phone at 610-326-6300 and we will be happy to assist you further.

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