Title insurance insures that you have clear title to the property. If there are any problems or discrepancies found later, you can always go back to the title insurance company and have them clear them up if necessary. You will also be paying a fee to the title insurance company for the Lender’s Policy. The lender’s policy insures your mortgage lender that there are no liens or judgments against the property and that the mortgage will be in first position. In other words, should you sell the property or refinance it, their mortgage gets paid first, before any other claims against the property.