Most lenders insist upon title insurance with every loan because they want nothing to affect their security interest in your property. However, a lender's title insurance policy does not protect the owner's interest. In many instances, you must specifically request that owner's title insurance be issued. If the lender considers title insurance to be vital to protect its interest in your property, shouldn't you? Be sure to ask the closing officer if an owner's title insurance policy is going to be issued to you.

This Could Never Happen To You...Or Could It?
Losing Your Home...To Someone Else's Taxes
The IRS was demanding thousands of dollars be paid by the Smarts to pay-off a federal tax lien against a former owner of the property. The local clerk's office had misspelled the last name of the tax debtor when it indexed the lien. Title examiners were unable to discover this lien because of the misspelling. The house would be sold if the IRS were not paid.

The Prodigal Son...Who Never Returned
Sam seemed like such a nice guy when he sold his home to the Andersons.  He had received the property as a gift from his mother and sister before they died. Since he never paid anything for it, he was willing to sell it to the Andersons at a great price. Later that year, two women appeared at the Andersons' home wanting to know why the Andersons were in the women's home. The two women were the mother and sister of Sam. The mother and sister were not dead and they never gave the property to Sam. Sam had forged a deed from his mother and sister to himself. Sam was long gone with the Andersons' money and the Andersons would have to give up the home or buy it, a second time, from the mother and sister of Sam.

Big Coverage...Small Fee
You can purchase owner's title insurance at the time of closing. It is a one- time premium which protects you as long as you own your home and, in most cases, even after you sell your home. Compared to other forms of insurance, title insurance is one of the least expensive and can grant you the greatest peace of mind. Buying an Owner's Policy protecting your home investment when a lender's policy is being purchased costs only slightly more than buying a lender's policy alone.
Ask your title professional for the exact cost. Don't take any chances which could jeopardize your home investment. Buy owner's title insurance.