Owner's Policy

Quick Answers

May Need Owner’s Policy

Owner’s title insurance is recommended when a property:

• Has had multiple previous owners

• Is an older home in a rural community

• Was purchased through foreclosure, estate sale, or probate

• Has been inherited or transferred through family

• Has boundary, easement, or access considerations

• Has limited or unclear public records

• Was bought without a real estate attorney

• Is part of a divorce or legal settlement

Likely Won’t Need Owner’s Policy

Skipping owner’s title insurance may be reasonable when a property:

• Is new construction or large subdivision (land developer is more likey to be sued in a land dispute)

• Has had very few prior owners

• Was recently insured with a clean title history

• Has a full title search and legal review (if the home was previously mortgaged)

• Is being purchased for short-term ownership

• Is a low-risk resale with no liens or disputes

• Has clearly defined boundaries and access

Personally, I have never purchased an Owner’s Title Insurance policy, as I never felt my past home purchases carried significant risk. That said, if the cost is affordable for you and having the coverage provides peace of mind, it is absolutely worth considering.