Homeowners' vs Title Insurance

Both homeowners' and title insurance can provide you with protection when it comes to owning a home. While they may be similar, the protection that each type of insurance provides is very different. Here are the basics of homeowners' and title insurance.

Homeowners' Insurance

Homeowners' insurance is a product that is necessary in order to protect yourself from the costs of damage to the property. If your home is damaged in any way covered by your policy, your homeowners' insurance will step in and pay to repair it after you pay a deductible. This insurance is necessary in order to protect your investment in the property. If the property is destroyed, the homeowners' insurance will step in and pay for the damage.

Title Insurance

Title insurance is another type of coverage that is used to protect your interest in a piece of property. This type of insurance actually protects your ownership of a property instead of the physical property itself. This insurance is used to protect against claims from previous owners of the property or any creditors that may have a claim to the property from when it was owned by another individual. This type of insurance is necessary because it ensures that you will be reimbursed if someone claims a portion of the property.

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