When you buy a home, it represents your dreams for the future. Homeowners typically understand that they must protect those dreams by purchasing homeowners’ insurance. If your home is near Panama City Beach, FL, our team at Hall Insurance can help you to choose the right policy to safeguard those dreams. We’ve been working with homeowners like you since 1998. However, home title insurance is different from home insurance. It’s a one-time purchase you make when you buy your property.
What Home Title Insurance Covers
If you’re a first-time homebuyer, you may not fully understand the significance of a home title. The title will be your proof that you are legally permitted to place a structure on a plot of land and are the only one with a claim to the property you’re buying. It protects against financial loss associated with title defects, such as liens, fraud, or unknown heirs looking to claim the property. According to the Florida Department of Financial Services (DFS), the party paying the title fee has the right to choose the title agent. However, the title agent must also be approved by the mortgage lender.
Home title insurance offers financial and legal protection against title defects or disputes arising from prior ownership issues, helping cover costs if someone challenges your ownership or the property’s title.
It’s important not to confuse home title insurance with title fraud protection services. According to DFS, "Home Title Lock" insurance will not protect your claim to your property. Rather, it is a title monitoring service that alerts you to attempted changes to your property’s title, like those caused by fraud. Keep in mind that you can verify the status of your property’s title free of charge by visiting your county’s land records office.
Call Us for a Home Title Insurance Appointment
Home title insurance doesn’t need to be complicated. Our team at Hall Insurance will take the time to explain your insurance options. Clients in the Panama City Beach, FL area have been placing their trust in us for over 25 years. Call for an appointment and let us help you protect your home and property.
