Title Insurance is purchased with a one-time fee at closing and protects owners in the event that title to the property is found to be invalid. Coverage includes "lenders" coverage, which protect buyers up to the mortgage value of the property, and "owners" coverage, which protects owners up to the purchase price.

Homeowners' Insurance provides fire, theft and liability coverage. These policies are required by lenders and often cover a surprising number of items, including in some cases such property as wedding rings, furniture and home office equipment.

Flood Insurance is generally required in high-risk flood-prone areas. This insurance is issued by the federal government and provides as much as $250,000 in coverage for a single-family home plus $100,000 for contents. Your REALTOR® can explain which locations require such coverage.

Home Warranties offer the assurance that if something goes wrong after the purchase, it can be fixed. Home warranties bought from third parties by home builders are generally designed to provide several forms of protection: workmanship for the first year, mechanical problems such as plumbing and wiring for the first two years, and structural defects for up to 10 years. Home warranties for existing homes are typically one-year service agreements purchased by sellers. In the event of a covered defect or breakdown, the warranty firm will step in and make the repair or cover its cost.

Insurance policies and warranties have limitations and individual programs have different levels of coverage, deductibles and costs. For details, speak with a REALTOR®, insurance broker or home builder.