Do I need owner's title insurance for a refi?

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Is it necessary to buy an owner's title insurance policy for a refinance? I have lived in the home 6 months, we bought in November 2011 and have an owner's policy from that date. We are refinancing and of course obligated to get a lender's title policy. Do we need one, too?

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If your required to pay for one its usually just $100 for the additional. Called simultaneous issue. Call the orig closing/title co. If with-in 6mo should be drastically discounted. But to answer your question. Claims are rare, but payouts obviously large. If it was a foreclosure, or you have quite abit of equity, doesn't hurt.

Generally you wouldn't get an owners policy with a refi. However, you'll pay close to owners policy rates since you're only getting a lender's policy. You only get the discount on the lender's policy when you're also getting an owner's policy.

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