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Yes, you would want to be covered in the case there was an issue with the the builder and something was missed.
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∙ 14y ago
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Do you need to keep paying for home insurance when your home is being sold due to foreclosure?
Yes, you need/should keep paying for the insurance until you are not on the title anymore.
Do I need title insurance if I buy a home with cash and no mortgage?
Yes. You still need to protect your investment.
Do you need home insurance if you are renting?
Not for the building fabric - that should be the landlords responsibility, but you would benefit from contents insurance (in case you are robbed etc.).
Do I need building insurance for a building I don't own?
Yes, you will need building insurance. It is still wise to have some type of insurance to cover for damages and loss even though you don't own the building.
When building my home do I need builder's risk insurance?
This depends on the state that you live in. In most cases, you need to apply for a permit from the government for building rights, this can be on a local or state level. However, a risk insurance woud be an intelligent choice.
Do you had to have a title to be able to by title insurance?
No, you need to own a house.
Where can one learn about title insurance?
You can learn about Title Insurance through your bank, if you are taking a loan out for a mortgage on your house, then you will need to make sure you have Title Insurance. You can also learn about whether you need it or want it through Title Insurance agencies that offer information about this specifically.
Do you need to have insurance on a car when transferring the title?
No
Do you need commercial building insurance to build a building?
Yes, you will need commercial building insurance in order to protect you from incurring higher cost later on as well protect you, and your renters. Normally you will need fire and theft insurance amongst others.
If you get a title comittment do you also need title insurance or does title comittment mean you get title insurance also?
A title commitment is just what it is. It's a commitment. Meaning as long as all of the conditions are met on that commitment, after closing, title insurance will be issued. A commitment is not considered insurance. Your title is not insured until after closing when the new deed and/or mortgage has been recorded. At that point, the title company issues insurance. If you are buying a new home and depending on where you are, you should receive your title policy about 60 days after closing along with either the original or a copy of your deed.
The most extensive title coverage would be?
Title insurance costs are regional. You need to contact a title insurance company in your area. You will need to have a professional title examination done to get an owner's policy. The title insurance company can refer you to an agent. There aren't any other options that I know of.
What is title insurance and do you need it when refinancing your home?
Title insurance is usually required by the lender to protect the lender against loss resulting from claims by others against your new home. In some states, attorneys offer title insurance as part of their services in examining title and providing a title opinion. The attorney's fee may include the title insurance premium. In other states, a title insurance company or title agent directly provides the title insurance. A Lender's Title Insurance policy is usually required when you are refinancing. If you have an Owner's Title policy already (you probably received it with your recorded deed) and can provide the title agent with a copy of it, you can very often get a reissue credit that will greatly reduce the amount of money this lenders title insurance policy will cost you. To save money on title insurance, compare rates among various title insurance companies. Ask what services and limitations on coverage are provided under each policy. In many states, title insurance premium rates are established by the state and may not be negotiable. Even if the premium rates are not negotiable, many of the title-related fees can vary from company to company and should be compared as well.
