Title insurance is one of those additional costs of purchasing a home that, unlike many other fees, is actually optional. Most people don’t want to deal with additional fees and ignore title insurance. That’s not necessarily a good idea. If you can afford to pay the fee, it’s a good investment.
There aren’t very many options available for homebuyer protection, and title insurance is one of the best. Title insurers have the best access to records and most experience detecting problems of any form of homeowner protection. Fraud is on the rise in the electronic age, and title insurance protects the homeowner from both fraudulent claims and losses. You may also not realize that title insurance, unlike most forms of insurance, is just a one-time charge. You won’t be saddled with monthly or annual payments.