How does Title Insurance protect against these hidden risks & defects?

Title insurance defends you in a lawsuit attacking your title and either corrects the title problem or pays the insured's losses up to the face amount of the policy. The policy also protects you after you sell the property for defects occurring prior to your ownership that cause a loss to a purchaser if the title was warranted to you. The title policy guarantees that at the date the deed was filed for record placing title in the name of the insured, the title was free of defects apart from those "excepted to" in the policy. The policy does not guarantee an actual amount of land. It guarantees that there are no buildings or other improvements belonging to someone else located on the insured land when an acceptable survey is furnished to the title company. An additional premium is paid to amend the standard survey exception.

How do I obtain Title Insurance and what does it cost?

It's easy! Simply inform the title company, attorney or agent handling the closing of your property that you want to purchase an Owner's Title Insurance Policy. In most states, the premiums for title insurance policies are regulated by the state insurance commission or some other governmental body. 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. Your closing agent will quote you that price either upon your inquiry or at the time of closing.