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Is an Enhanced Title Insurance Policy Worth It?

Updated: Nov 9, 2023


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A standard title insurance policy is the fundamental option all title insurance companies offer. Typically acquired before a home closing, this insurance protects the buyer against specific incidents concerning the property's title. For instance, if inaccuracies in public records could jeopardize your rightful ownership of the property, title insurance would safeguard you from such risks. Nevertheless, numerous errors and unforeseen circumstances could threaten your property rights, even after completing the purchase or obtaining a mortgage. It's essential to note that not all of these risks become mitigated under the basic title insurance policy. Consequently, some home buyers upgrade to enhanced title insurance, offering additional protection against a broader range of potential issues.


So What About Enhanced?


Enhanced title insurance, true to its name, provides a more comprehensive and robust protection level than a standard title insurance policy. While basic title insurance safeguards you from general issues like errors in public records, document recording defects, fraud, forgery, and claims by previously unknown heirs seeking to take ownership of the property, there are still other potential risks concerning your property title.


Enhanced title insurance encompasses all the features of the base policy but goes further by offering additional safeguards. For instance, if undisclosed liens come to light after your purchase, it's not your responsibility to settle them. Moreover, it covers cases of restricted access to the property and zoning issues relating to your home. A notable benefit is a protection against the encroachment of structures onto your property, which is a more common concern than one might anticipate.


Which is Better?


Whether to opt for an enhanced title insurance policy depends on your financial strategy and tolerance for risk. Unlike other insurance types, title insurance is a one-time purchase rather than involving monthly premiums. This one-time cost makes title insurance attractive for many individuals seeking its protective benefits. If a problem emerges concerning the property's title, you might risk losing your home and any equity you've invested in it. In this context, the added protection and peace of mind offered by enhanced title insurance often outweigh the one-time expense, making it a worthwhile investment.


By choosing the enhanced title insurance policy, you're essentially adding an average of 80 cents per $1000 of coverage, which makes it a valuable upgrade for numerous home buyers. Nevertheless, determining whether enhanced protection suits your specific needs remains a personal decision. It's essential to engage in a conversation with title insurance experts regarding your circumstances and the factors you should take into account for your unique situation.


Buchanan Settlement Services provides an all-encompassing selection of title-related solutions, safeguarding the real estate investments of our valued clients. Our team comprises seasoned professionals committed to guiding clients through the intricate realm of title insurance. Depending on individual requirements, we offer a diverse range of title insurance policies tailored to suit their needs.


When searching for a trustworthy Pennsylvania title insurance agent offering top-notch coverage and real estate services, your ultimate destination is Buchanan Settlement Services. Contact us today by calling 717-762-1415, or visit our website, to explore our services further and discover how we can assist in safeguarding your valuable real estate investments through Title Insurance.

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