Title Insurance vs. Homeowners Insurance: What Queens Buyers Need to Know

Buying a home in Queens? You’re going to hear a lot of new terms at closing—and two of the most confusing are Title Insurance and Homeowners Insurance.

Even though both are essential parts of a smooth purchase, they protect you from totally different risks. Here’s the breakdown every first-time buyer should know. 👇

✅ What Is Title Insurance?

Title insurance protects you from past problems with the property’s ownership—issues that happened before you bought the home.

This can include:

• Old or unpaid liens

• Recording errors in public documents

• Boundary disputes

• Fraud or forgery in previous transfers

• Missing heirs or incorrect legal descriptions

There are two types:

• Lender’s Title Insurance – Required if you’re getting a mortgage. Protects the lender.

• Owner’s Title Insurance – Optional, but strongly recommended. Protects your equity—your financial stake in the home.

A one-time cost at closing can save you thousands down the line.

✅ What Is Homeowners Insurance?

Homeowners insurance protects you from future events things that could happen after you take ownership.

It covers:

• Fire

• Theft

• Water damage (depending on policy)

• Vandalism

• Personal belongings

• Personal liability if someone gets injured on your property

Most lenders require this policy before closing because it protects the physical structure and your investment in the home.

✅ Which One Do You Need?

If you’re financing your home, you’ll need:

✔️ Lender’s Title Insurance (mandatory)

✔️ Homeowners Insurance (mandatory)

✔️ Owner’s Title Insurance (highly recommended to protect your equity)

For first-time buyers, Owner’s Title Insurance is one of the smartest protections you can choose it prevents costly surprises that could affect your ownership rights.

✅ Want This Info in a Simple One-Page Guide?

We created a clear, easy cheat sheet breaking down both types of insurance. DM us or stop by the office we’ll walk you through the entire process from start to finish.

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☎️ (516) 218-1297

LJ Mortgage Team – Your Local Guide to Homeownership!

127-03 Rockaway Blvd, South Ozone Park, NY 11420(516) 218-1297

LJ Realty Team Buy • Sell • Rent Equal Housing Opportunity

LJ Mortgage Team Inc. NMLS# 2120286Purchase & Refinance NYS Registered Mortgage Broker, NYS Dept. of Financial Services. Broker arranges mortgage loans with third-party providers. MORTGAGE BROKER ONLY, NOT A MORTGAGE LENDER OR MORTGAGE CORRESPONDENT LENDER. Licensed by the N.J. Department of Banking and Insurance. We do not make mortgage loan commitments or fund mortgage loans.

NMLS Consumer Access:www.nmlsconsumeraccess.org

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