Insurance: What It Is and Why You Need It for Your Home

Insurance: What It Is and Why You Need It for Your Home The blog covers what title insurance is, why it's important, and how it can provide peace of mind during the home-buying process. This blog is a helpful resource for anyone in the process of buying a home or for homeowners who do not have title insurance. As a mortgage broker, I’ve seen countless clients go through the process of buying a home. While it’s an exciting time, it can also be a stressful and overwhelming experience, especially when unexpected issues arise. One such issue that I’ve seen is title defects, which can cause financial loss and put the entire home-buying process at risk. The most impactful that comes to mind is from years ago. I had a client who was purchasing a beautiful home in a sought-after neighborhood. Everything was going smoothly until we received a call day before closing. It was from the actual owner of the property who had discovered his property was being sold and had no knowledge. Things were sorted and dealt with quickly thanks to some amazing work by the solicitors. But it could have been worse and devastating to several parties. Title insurance can be a financial lifesaver.

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