Title Insurance Company in Rhode Island

The First National Title and Escrow team takes great pride in helping people with real estate transactions. As a title insurance company in Rhode Island, we play a key role in many real estate sales. That includes providing title insurance for the transactions.

If you’re looking for a title insurance company in Rhode Island, you’re in the right place. Beyond being a title insurance company, we’d like to be your resource for information about title companies and closing services. Read this post for a guide to finding the right title insurance provider in Rhode Island.

The Basics of Title Insurance

Title insurance protects against various defects to a property title. It could be issues like unpaid property taxes, undisclosed liens, or an improperly sold property. Title insurance may also protect against property line disputes or missing heirs that come forward after the purchase. It offers financial protection for legal issues affecting ownership or property rights.

Insurance for Lenders and Owners

You might encounter lender’s title insurance or owner’s title insurance. Buying a lender’s title insurance might be a requirement if you purchase a home with a mortgage. It protects the lender’s investment if a title dispute arises after the sale. However, the lender’s insurance does not cover the property owner. For that, you would need owner’s title insurance.

Research Title Insurance Companies

Before settling on an insurance provider, research several Rhode Island title and escrow companies. Ask people you know for recommendations. Go online to search for title insurance companies in Rhode Island. Learn about their history and check their credentials and licensing. It would help if you also looked for reviews and ratings from past clients.

Additional Services

Most people need more than just title insurance. Determine all the title services you need and see if you can find a provider to handle everything. For example, if you need escrow services, the process will be easier if the company handles title insurance and escrow.

Review Coverage

Not every title insurance policy is the same. That means you must review the policy to ensure adequate coverage. If it is for the lender’s title insurance, it must meet the loan agreement requirements. For owner’s title insurance, you’ll need to check several points. For example, some policies might not cover unrecorded easements or certain issues relating to boundary disputes.

Cost of Coverage

Checking the cost of coverage is important when selecting a title insurance company in Rhode Island. Insurers typically determine costs based on a percentage of the sale price. It is a one-time payment during closing. However, the cost may vary depending on the scope of the coverage.