It is a close examination of public records to verify if any encumbrances, liens, or claims are attached to the title of the property you are intending to purchase or refinance.
You need title insurance because it protects you! It is designed to protect the equity in your home and against the losses that can occur after closing if it is discovered that there are claims against the title to your property. It also transfers these losses to the insurer who may reimburse you for any loss or devaluation of your property as a result of a claim.
Title Insurance is a premium you pay only once, but your property will be insured for as long as you own your home, adding security and peace of mind to home ownership.