THE IMPORTANCE OF TITLE INSURANCE
Dollar for dollar, title insurance is the best investment you can make to protect your interest in one of the most valuable assets you own: your home.
• Title insurance protects property owners and lenders against legitimate or false title claims, ensuring the investment’s potential as a financial asset. • At Fidelity National Title, we assess, assemble, analyze, and distribute title information, as well as handle escrow and closing. • Title problems, found in over a third of residential transactions, must be resolved before closing. Common issues include existing liens, unpaid mortgages, and recording errors. • A homeowner’s title insurance policy protects the owner for as long as he and/or she has an interest in the property, with the premium paid only once at closing. • Title insurance insures against events before the policy is issued, unlike
other insurances that cover future events. It is loss prevention insurance. • Fidelity National Title conducts thorough record searches to identify and resolve defects before issuing a policy, minimizing claims and maximizing protection. • Researching titles is labor-inten- sive, with only 30% of public records computerized. The industry invests significant time and expense in this process, resulting in a low claims experience compared to other insurances. • Title insurance companies must file rates with the Colorado Division of Insurance. While consum- ers may seek the lowest rate, less expensive companies may lack the expert staff and resources needed for quality service.
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