Bon Air Title Agency
We just make it easier
PHONE:  804-320-1336
9211 Forest Hill Avenue, Suite 111, Richmond, VA 23235

Why Title Insurance

We are used to thinking of insurance as protection for something that might happen in the future. Title Insurance is different. It is an insurance policy for actions or events that may have already occurred and some that may happen in the future that might threaten the title to your real estate property.

A defect in your real estate title can have devastating effects, if you are not properly insured. The American Land Title Association warns that an estimated 40 percent of U.S. property owners may not be protected against a challenge to the title of their homes. As a property owner, you could face losing your real estate property if there is a problem with the title.

Title Insurance protects real estate property owners and lenders against hidden risks that affect title to real estate. There are many instances in which hidden risks cannot be discovered even with a meticulous title search. Hidden risk is why it is so important for a purchaser to obtain an Owner’s Title Insurance Policy, which covers some of the following risks:

• Forged documents
• Clerical errors in public records
• Fraud
• Signature of minors
• Deeds from mentally incompetent persons
• Undisclosed or missing heirs

The examples above would cause the property owner great financial loss or even complete failure of title resulting in losing the real estate property. Without Owner’s Title Insurance Coverage the purchaser assumes all the financial risk if there are defects that go undetected or even if the risk can’t be determined until later.

Title insurance ensures the safe and efficient transfer of real estate. Before you go to closing, your real estate attorney will have all recorded public documents searched to see if there are any encumbrances that might prevent the free and clear transfer of title. Don’t gamble with the single largest investment you will probably ever make. Protect yourself with a title insurance policy.

Brad K. Simpson, President
Bon Air Title Agency
Ph: 804-320-1336Fax:804-320-0024
9211 Forest Hill Avenue, Suite 111
Richmond, VA 23235 US
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