Title insurance is an important step in the home buying process. But, for your customers, it’s a step that is probably misunderstood by more than a few. That’s why the Placer Title Company team is here for you. You probably saw our “Title Industry Quiz” awhile back, but if not, you should take it and then pass it on to anyone who wants to know more about title insurance.
At the basic level, your customers know about insurance. They’ve encountered it for years when it comes to medical, renter’s or auto policies. However, to understand what title insurance is, they must understand what a title is first.
If we’re going by the book definition, a property title is the legal way in which property ownership transfers from one person or business to another. The most valuable “rights” and “interests” are owned by the property’s owners. In other words, title insurance protects your property rights and ensures you can legally use your property for as long as you own it.
So, when educating customers about title insurance, let them know the amount of risk analysis that is done prior to getting the keys to their new home (or prior to protecting their property rights with a title insurance policy.) It’s this initial legwork that is key to our customers not encountering many ownership problems in the future. Often, a thorough title search uncovers and resolves most concerns before the closing.
People who bypass an owner’s title insurance policy because there’s a low risk of ever using it will be really frustrated if a problem occurs. Understand that it’s very easy to file a lawsuit and much more difficult and costly to defend one. We’re here to coach our customers through everything title insurance gives them, as well as do the hard work that goes into the initial steps of your title insurance policy. A one-time, affordable price is well worth your peace of mind for years to come.
Placer Title can explain every facet of title insurance to you and your customers. Contact one of our California locations today with your title insurance questions, and our team of friendly experts will be happy to guide you through them.