Without title insurance, you are vulnerable to claims made against the title on your property. At the worst, you could lose your entire home and property – and still be responsible for paying your mortgage.
Most situations aren’t that extreme. Some claims against the title are related to liens that are still attached to the property, not the entire property itself. In any case, dealing with a claim against your title will cost you time, money, and aggravation. And, you could also be responsible for legal costs related to the claim.
That is why Foote Title Group always recommends you purchase a title insurance policy when you buy a new property. The chances you will need to call on your title insurance is low, but if you’re not covered and a claim is made, the costs to you can be high.