Title Insurance – Protection for you home and your commercial buildings

Title insurance commonly comes to our attention when we purchase a home. I have had to deal with it twice so far and both times have been during the buying process and provided through my lawyer. In an age of increasing identity theft exposure and coverage, title insurance is just another barrier of defense that you can raise against those who would subvert your rightful property.

Third party liability insurance helps to defend you for your act of negligence that result in property damage and/or physical damage to another. The claim is made against you and if the claim is valid, their lawyers will settle the case for you.

With title insurance, you are the party that would suffer damage. The title insurance helps by covering the legal expenses related to restoring title (your claim of ownership) on the property. The beauty of this product is that it protects you against:

-real estate fraud
-conflicts over land ownership
-outstanding work orders
-major encroachments
-zoning non-compliance
-access related problems and sometimes even identity theft coverage (but this is starting to appear more frequently on your home insurance policies and commercial insurance policies)

Title insurance is not a coverage that is limited to your personal home either – the coverage is a must for any company that owns commercial property. It is typically thought that the only way to get this coverage is through a lawyer’s office – this is not entirely true (come on – did you expect a straight answer?)

When you purchase your property, the title insurance is only available through a law office. If you refuse it, then you can purchase it through an insurance broker – this method is especially useful for those with no mortgages!

It is always in your best interest to have as much protection as you can for your property because you work hard to get it, and you should have to defend your ownership of it simply due to someone trying to defrauding you.

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