What are the benefits of enhanced title insurance?
We’re always thrilled to see coverage of the benefits of title insurance. It’s not a subject that comes up in everyday conversation for most people, and by the time it does enter the conversation it’s often in the form of a question about whether or not anyone actually needs title insurance.
The article (“How to determine whether you need ‘enhanced’ title insurance when buying a home“) points out many of the protections that title insurance affords and recommends that every buyer purchase at least a standard title insurance policy. We agree.
While the article was in response to a question about if anyone needs an enhanced title insurance policy, it stops short of getting into any of the benefits of enhanced title insurance coverage. Yes, the policy costs about 20% more than a standard policy, but it also offers additional protections.
One significant benefit of the enhanced title insurance policy is protection from title fraud, a type of identity theft scam.