Chelsey Tucker graduated with a Bachelor of History degree from Metropolitan State University in 2019. She now writes about insurance with her specialty being life insurance and has been quoted on Help Smart Phone and MEL Magazine.

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Dan Walker graduated with a BS in Administrative Management in 2005 and has been working in his family’s insurance agency, FCI Agency, for 15 years. He is licensed as an agent to write property and casualty insurance, including home, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like

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Reviewed by Daniel Walker
Licensed Auto Insurance Agent

UPDATED: Mar 19, 2020

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Title Insurance

Should you buy title insurance? Is the purchase of title insurance even worth it? Title insurance is a type of insurance coverage that is often purchased when a real estate transaction takes place.

Many real estate buyers wonder whether they should actually spend the extra money to purchase title insurance or to avoid it. Here are a few things to consider when trying to decide if you actually need to buy title insurance or not.

What is Title Insurance?

Title insurance is a type of coverage that is designed to protect purchasers of real property. If you plan on purchasing real estate, there is a good chance that you are going to be offered title insurance in the process. Title insurance was invented in order to help protect people from the damage that occurs when a title is recorded incorrectly.

If you purchase a property that does not have a clear title, it could potentially be devastating to you in the future if any issues come up. Title insurance is like a security blanket that is designed to protect you from having to pay for any damages out of your own pocket. It can also help you to keep from losing a property under certain circumstances.

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What Types of Title Insurance Are Available?

Typically, there are three different kinds of title insurance that are available in the market. If an individual is purchasing a piece of real estate, they will most likely want to buy an owner’s policy. This is going to give them the assurance that the title to the property is correct and that there are no defaults to worry about.

Another type of title insurance is a lender’s policy. This is a policy that is purchased directly by the lender in order to make sure that the property that they are helping purchase is free from any defects in the title.

Another type of title insurance that is available is a construction policy. This is a type of title insurance that you could purchase if you were building a new property on a piece of land.

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Potential Problems with Title Insurance

You may be wondering what types of issues could come up with the title to a piece of land. There are many different issues that could potentially cause problems for you if you do not purchase title insurance.

For example, if someone that did not necessarily have the right to sell a piece of land forged a signature and sold it anyway, this could cause real problems. Without title insurance, the person that forged the signature could get away with all of the money from the purchase. The person that actually owned the property would get the property back and the individual that bought it would be out all of the money that they invested.

However, if that person purchased title insurance, they would be able to get reimbursed for the money that they spent on the property. There are several problems that could come up when you buy property if title insurance is not purchased at the same time. For the relatively small price of title insurance, in most cases, it is worth the peace of mind that it provides.

Shopping Around for Title Insurance

When you are in the market for title insurance, you will want to make sure that you spend some time shopping around before purchasing. Rates can fluctuate greatly from one insurance company to the next and you want to make sure that you are getting the best deal. For starters, you should consider entering your zip code into the form on this page so that you can start getting insurance quotes from insurance companies in your local area.