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In a recent article posted by InsuranceAgents.com, “Purchasing A Used Car? Consider Car Title Insurance,” they discuss how car title insurance will help save you from losing money in the future. “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,” states the article. Car title insurance is affordable with a one-time payment of $49.95 and offers up to $50,000 in coverage, which for used cars, is usually enough and you wont have to add any additional coverage to your policy.
Vehicle title fraud is not very common, but if you are buying a used car that is over 10 years old and has a significant amount of miles on it, consider protecting yourself with car title insurance. This way you can be protected just in case you vehicles past is less than perfect as you thought it was.
