Buying a home is a major investment, and protecting it is essential. Two important forms of protection are homeowners insurance and title insurance, and while they serve different purposes, both are important.
Homeowners Insurance
Homeowners Insurance covers future events with regular payments. Protection includes: fire/storm damage, theft, temporary housing if needed, liability claims, and structural repairs. Flood/earthquake coverage may require separate policies depending on location.
Title Insurance
Title Insurance is a one-time closing cost protecting against past ownership issues: document forgery, undisclosed liens, recording errors, and access problems. Lender’s policies protect the mortgage company; owner’s policies (optional but recommended) protect your interests as long as you own the home.
The Bottom Line
Homeowners insurance protects against future risks; title insurance guards against past issues. Together, they provide comprehensive protection for your investment.
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