Owner’s title insurance - to get or not?

[Nana Sefa]

Which of you get owner’s title insurance? And who doesn’t get owner’s title? Why do you get or not get? Thank you. 

[Russell Brazil]

I always say if you get owners title insurance, you will never use it. If you do not get it, you will have a situation where you need it.

I have actually made a claim on owners title insurance before. I purchased a property that was a foreclosure. Years later I was refinancing and they found a title defect. Property had not been properly foreclosed on, so they had to reforeeclose on it like a decade later. Didnt cost me a dime, just time pushing my refinance back.