Almost everyone who buys a home spends thousands of dollars on title insurance. Most of them don’t understand it, and almost none of them use it. So why does it exist? Zachary Crockett closes the deal.

• SOURCES:
  • Christy Bieber, personal finance writer.
  • Laurie Goodman, institute fellow at the Urban Institute Housing Finance Policy Center.
  • Kathy Kwak, chief operating officer of Proper Title.

• RESOURCES:
  • "Remarks of President Joe Biden — State of the Union Address As Prepared for Delivery," (The White House Briefing Room, 2024).
  • "Fannie Mae Expands Use Of Attorney Opinion Letters (AOLs) As Title Insurance Alternatives," by Christine Stuart (National Mortgage Professional, 2023).
  • "U.S. Private Auto Insurers Break Premium, Loss Ratio Records in Q1," by Kris Elaine Figuracion and Tyler Hammel (S&P Global, 2023).

• EXTRA:
  • "'Insurance Is Sexy.' Discuss," by Freakonomics Radio (2023).