Car Title Insurance, Uncommon But Could Come In Handy

Most educated used car buyers make it a habit to check the title history of the car they’re interested in purchasing. This can be done easily online and returns a detailed report of the vehicle’s title history. Is it accurate, though? That is why car title insurance was created. There have been documented cases of used car buyers purchasing a vehicle upon receiving a clean title history only to find out later the vehicle has a blemished title. The result could be a lawsuit or losing money if you decide to sell the car.

Car title insurance can be purchased as financial protection if information in your car’s title history ends up being false or inaccurate. You can find relatively cheap car title insurance onlinetitle insurance quotes.

Advantages Of Car Title Insurance:

• Affordability – A standard car title insurance policy costs a one-time fee of $49.95 and offers up to $50,000 in coverage. You can purchase additional coverage but used cars generally don’t cost more than the standard coverage amount.
• Protection from losing money – If you purchased a car with what you thought was a clean title only to receive your ownership title from the state to find out the vehicle had water damage in the past then you will lose a significant amount of money if when you try selling the vehicle. Your title insurer will buy the car back from you at its full value.
• Protection from lawsuits – If there is fraud involved in the process of transferring the title then car title insurance will cover the legal expenses that result from your insurer taking the matter to court.

Also, keep in mind that although title fraud isn’t very common, it is strongly encouraged that you purchase car title insurance if the vehicle you’re purchasing is older than 10 years and has a substantial amount of miles on it. These cars have generally changed hands a number of times and are more susceptible to title fraud.

Learn More About Car Title Insurance

If you are purchasing a used car and are worried about the car’s past coming back to haunt you then protect yourself with car title insurance. Go online to gather title insurance quotes and speak with a title insurance agent about whether or not car title insurance is right for the vehicle you’re purchasing.