I think it is foolish to do without but have ad several cash buyer decline the insurance. 

The cost of title insurance covers about 1 hour of lawyer fees if you dnt have it. MAny times mortgage discharges are missing and the infamous missing POC page when one mortgage company transfers a past mortgage to another bank 

Title insurance is very important.  

When I get a buyer paying cash tell me they do not want to buy title insurance, I let an attorney explain to them why it's so important, 99.9% of the time, the buyer ends up purchasing title insurance.  

-Lenders require borrowers to purchase title insurance in order to fund the transaction. 

Recently, my buyer closed and went to the HOA office to get access for the gate.  The attorney who wrote the estoppel letter only wrote it for the smaller HOA for the community and not the master HOA.  He stated he was only asked for one so that's what he provided.  The Title agency that closed the file used the title insurance to get the Master estoppel and pay the fees because of the error. 

It was not a big financial loss but it could have been.  

Very important... title insurance comes into play in eac and every transaction. No lender will fund a loan without title insurance in place.

A property in our area will not close without it.  Never has came into play so far, at least with any of the properties I've sold

Very, we don't close without it.

Critical.

        I have had transactions where the Title Search was a show-stopper.  In one instance the Seller had to file suit for Quiet Title; numerous heirs had to be subpoenaed, it took about 6 months to get clear title.

Too big of a gamble not to get it

It is very important and every lawyer here recommends it to my clients. I rcommend it to all my clients and everyone should have it. It's a one time premium.  I had an occasion to use it, and I'm so glad they paid for the repair work that would have cost me $3,000

Very.

It is very important to have that warm fuzzy feeling you are purchasing a property with clear title. Yes title companies miss leans all the time.

Never buy a home without it - it's that important! If a Title issue arises, the policy holder simply has to contact the Title company - they take care of hiring an attorney and they handle everything.

A homeowners' loss is protected up to the amount on the Title policy.

Had to use it once when the prior escrow forgot to pay the property taxes.

Yes. During the recession, we had a number of REOs hit the market under different levels of construction or remodeling. We recommended our buyers purchase extended coverage for mechanics liens for these. One case our buyer did - and found after closing there was a $12,000 lien. His $200 spent for the extended coverage was well worth it!

Very

Very.

Yes. Involving an incorrect legal description at the tax office.

You can't get a loan without it and a buyer shouldn't close without it.  It always comes into play, it's an expense, albeit a minor one. 

Very important.  Accentuate the positive in life and in real estate. 

Very

Are you about ready to take your test?  It has been awhile since you joined the QA group.....

Yes, once. The title company spent more money on advertising then they did to satisfy the claim!

#1) Very

#2) Yes

The most common thing I see is where the Seller lost, misplaced, or never even had the original abstract.

Have had a few occasions when it was very important.

Never been in a situation where my buyer wasn't getting it.

I believe it should be mandatory. AND yes I have been involved in a couple of transactions where title issues have been uncovered that title insurance covered

I would not purchase a property without title insurance.

It's essential.

It is very important - there is a reason it is called "insurance". 
I wish you all the best with your studies and with your real estate career. 

Essential, I wouldn't own property without it except under unique circumstances... Like buying a lot that I plan to build on in a couple of years. Will wait to buy until I build.

Severely important.

Many times over the past 22 years of my career.  Liens, other owners on title, deed restrictions and others.

Lucky, never had a problem.