When you buy a property you are usually given the option to purchase title insurance. The first time the option was given to me I asked, “Why do I need title insurance? I have paid good money to a title attorney to research the title and to make sure a clear title is being conveyed to me at the closing.”
All true, but what I didn’t understand is that there may be problems with the title that are not apparent or even “discoverable” by the most capable title attorney. Therein lies the reason that purchasers of property should always buy title insurance.
Among the defects that a title might have that a thorough search of the public records might fail to disclose include the existence of a forged will or deed, a transfer of title by someone underage, undisclosed heirs, fraudulent impersonations, invalid divorces, prior conveyance by a married person without knowledge of the spouse, defective recordations, and false affadavits. 
All of these things can, and do, happen – not often, but often enough that you should be willing to part with a few hundred dollars to protect your ownership of property and give you peace of mind.
When you have title insurance and there arises some claim against your property, some suggestion that there is a “cloud” on your title, or that you have not received “clear” title, your title insurance company will defend your ownership against any claims, at no cost to you, whether the claim is a valid one or not.
Without title insurance you could be in jeopardy of losing your investment. The title insurance company will come up with a solution even if it means paying you for a bad title.
There is a one time premium payment for the insurance and it’s good forever, theoretically. That’s right, one payment and you’re insured forever.
If you’re buying a property make sure you have a discussion with your title attorney. He or she can explain in much more detail the reasons for purchasing title insurance, the terms and the coverages. Rest assured that it makes good sense – and good cents!