Title insurance and homeowners insurance are both extremely important, and often required by lenders. Title insurance may protect you from certain losses in the event an issue arises with the title after closing. Typically, title insurance will be required for both the lender and the buyer. Homeowners insurance policies typically cover damages caused by fires, lightening, windstorms, and hail.
It is important to understand what is covered in the quote, and look for additional insurance for damage caused by certain natural disasters, as well as flooding. In addition, home insurance providers may ask for a 4-Point and/or a Wind Mitigation inspection, which may help you save on rates. These inspections can usually be ordered from the same company preforming your general home inspection. A 4-Point inspection gives a snapshot of the roof, electrical system, plumbing system, and HVAC. While the Wind Mitigation inspection checks the home's wind-resistant features. It is prudent to find out which, if any, of these inspections will be requested, and adding them at a marginal cost before the general home inspection - rather than paying for an additional visit to the home.
In addition, the buyer will likely order a survey to confirm the land boundaries, identify conditions, and look for easements or encroachments.