YOUR INSURANCE Protecting Investments (NAPSA)—Oneof the best ways to protect the investment in your new homeis withtitle insurance. For a one-time fee at closing, owner’s title insurance protects the home buyer from problems Title insurance provides homeowners with peaceof mind. that could arise with their title, including claims on the property and easement issues. Title problems occur in 25 percentof all title searches. According to the American Land Title Association (ALTA), title insurers paid approximately $460 million in claims in 2001, and $350 million in 2000. The payments were made to compen- sate insured homeowners for losses they experienced under policies issued to them, or to defend their titles from the claims of others. Many times buyers are not aware of these problems because professionals settle them without delaying closing or increasing their fee. However, whentitle problems are not settled, the financial loss can be severe. “The truth is that claims happen more frequently than people think,” says James R. Maher of ALTA. “Title insurance not only buys protection from financial loss, it buys peace of mind.” For more information, visit www.alta.org.
