What is Title Insurance and Why Do I Need It?



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What is Title Insurance and Why Do I Need It?

Title insurance is a safety net when you are purchasing a home or other property. Just like you purchase auto insurance to protect you in case you are in an accident or your car is stolen, title insurance will protect you financially in the event there is an ownership problem with the property you are purchasing.

As you move through the homebuying process, a title search will be performed. This search is designed to identify any type of legal ownership issue that might be out there – such as a lien, previously unknown owners of the property, creditors owed money, fraud, etc. If the title search is not comprehensive enough and the green light has been given to proceed, outstanding legal claims could pop up in the future. It could be weeks, months or even years after your closing. These issues could be very minor or significant – causing you to incur expensive legal costs or even cause you to lose your home and the equity you have accumulated.

This is where title insurance comes in. As the name implies, this is insurance to protect you against potential threats to your ownership. You might not even need to use it. In fact, you hope you don’t need to use it. But it will be there as that safety net – just in case.

Lenders require title insurance because they are the ones who are fronting the money for the loan. As the owner, you are not legally required to purchase title insurance. However, you run the risk of financial problems later. Sometimes the seller will pay for title insurance, so ask your title company for guidance on this matter. There are also many different title insurance companies in Northwest Florida from which to choose.

At Clear Title in Northwest Florida, thousands of home buyers have trusted our team of experts to conduct title searches and help them secure title insurance. Clear Title is the only title company in Northwest Florida that is owned by a Board Certified Real Estate Attorney, Stephen R. Moorhead. Mr. Moorhead has assembled an incredible team of experts who can help you navigate this confusing, but very exciting, time in your life!  

To schedule a meeting with our experts and explore our Pensacola title insurance services, contact us today at (850) 202-8518 or visit ClearTitlenwfl.com.

Our Locations

Pace Location

4636 Summerdale Drive
Pace, Florida 32571

Pensacola Location

22 N Tarragona Street
Pensacola, Florida 32502

Pine Forest Location

2107 W. Nine Mile Road Suite 3
Pensacola, Florida 32534

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