Things You Should Check Before Buying Metro Insurance
Before choosing Metro Title for your title insurance policy and other property closing needs, you will want to make sure you know the details of what you are getting. That provides you with peace of mind, and can also help to ensure you are getting the service you need and a policy that is right for you. There is no reason to settle for less than quality coverage as a property owner, and your lender will insist on strong coverage for themselves, as well.
When you buy insurance through Metro Title, you will receive a policy that shows you are covered for claims against the title. Your lender will also have that type of coverage. This means, if someone later tries to claim an ownership interest in the property, your insurance will handle that claim and your property will not be at risk. That is why a title search is conducted before a property is transferred from one person to another. It reduces the chances that someone else will have any claim to that property.
Metro Title can answer your questions and give you the information you need, in order to help you make an informed decision about your title insurance and other closing needs. While your lender will require a policy for themselves, you may have some options for your title insurance.
Asking about coverage limits and offerings is among the best ways to make sure you have knowledge of the issue and you have checked on policies to understand what you need and why it is important for your future.
Things You Need to Know about Title Insurance Refinance
When you refinance a property, you will need new title insurance. That may seem strange, since you already own the property and have insurance on it. However, every lender will want to have a title insurance policy, issued specifically to them.
Even if you refinance with the same lender, they will want a policy that reflects the relationship you have with them based on the new loan. It is good practice to assume that a new title insurance policy will be issued upon refinancing, but most people do not realize that.
Rather than hope you can just avoid a new one, or try to get your lender to change their mind, budget for the title insurance in your refinancing costs. That way you will not be caught off guard, and if you do not need the new policy you will have saved some money.
It is always better to plan for extra costs, rather than planning to spend less and finding out that you will actually owe more at closing than you were expecting to pay. Metro Title can help answer your title insurance refinancing questions.
Title insurance is not something that should be overlooked, either. It is a very valuable way to protect your investment in one of the biggest purchase you will likely ever make. A refinance should be taken just as seriously. Even though you are not buying a different piece of property, you are still making a big purchase and want to be clear that you are legally and financially protected when you do so.
Title insurance offers that, and can give you the peace of mind you need when you refinance your home. Whether you are using that money to remodel, pay down debt, travel, or do something else, you want to make sure you are protected.
