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{"id":986,"date":"2020-04-21T09:40:42","date_gmt":"2020-04-21T14:40:42","guid":{"rendered":"https:\/\/www.ratifiedtitle.com\/?p=986"},"modified":"2023-09-18T23:59:11","modified_gmt":"2023-09-19T04:59:11","slug":"why-you-need-title-insurance-if-you-are-paying-with-cash","status":"publish","type":"post","link":"https:\/\/www.ratifiedtitle.com\/why-you-need-title-insurance-if-you-are-paying-with-cash\/","title":{"rendered":"Why You Need Title Insurance Even if You Are Paying With Cash"},"content":{"rendered":"\n

You\u2019re paying cash for your new home. That\u2019s great!\nYou are not bound by the requirements set by many lenders such as having title\ninsurance, but the reason lenders require title insurance is to protect their\ninterests. It would be wise to follow that thinking and protect your investment\nas well.<\/p>\n\n\n\n\n\n\n

\n
\"Why<\/figure><\/div>\n\n\n

What\nIs Title Insurance?<\/strong><\/p>\n\n\n\n

Title\ninsurance<\/a> is a one-time, upfront cost based on the purchase\nprice of the home you want to buy. If you have title insurance, the title company\nprotects you from any claims of ownership against your home.<\/p>\n\n\n\n

Types\nof Policies<\/strong><\/p>\n\n\n\n

Unlike homeowners\u2019 insurance, where both the homeowner\nand the lender are covered, title insurance only covers the party listed on the\npolicy. There are two types of title insurance policies:<\/p>\n\n\n\n