Washington, D.C.-area Federal Title & Escrow Co. recently noticed a
trend that should alarm folks in our industry: An increasing number of
homebuyers foregoing title insurance.
To combat the issue, Federal Title launched a campaign to educate the
public about the importance of title insurance and the inherent risks of
waiving coverage.
The company’s “Protect What’s Most Precious” campaign appears on
Federal Title’s social media channels and targets real estate agents and
consumers.
The campaign highlights true claims stories, provides statistics,
addresses common questions and offers additional insights from other
real estate professionals.
“It’s a disconcerting trend because these buyers are opening
themselves to a mess of headaches down the road,” Federal Title
founder and CEO Todd Ewing said in a release announcing the
campaign. “We hope to convince people that owner’s protection really
is in the best interest of the consumer.”
He’s right. Title insurance is not only in the best interests of the
industry. It’s also in the best interest of the consumer.
The American Land Title Association does an excellent job of
educating consumers about the importance of the industry’s main
product (as well as about cybercriminals), but it can’t be the only
entity delivering these vital messages.
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