When a property changes hands, the closing process can bring lots of buried issues to the surface. In fact, one in three homes need to resolve an issue before the title is “clear” and ready for sale.
Unlike most types of insurance, title insurance covers past problems rather than future accidents. Title insurance provides coverage against problems like legal claims or record-keeping mistakes that add time and cost to closing a sale on a home.
Get more info on exactly what title insurance covers here.