Simply stated, you need to protect yourself! Yes, this is self-serving for a real estate attorney to talk about as we earn a portion of the title fee, but read what Clark Howard has to say about the issue for third-party validation! Ditto for local real estate guru John Adams (though that article is a bit older--the need remains the same, however!)
As a real estate attorney, we have to clean up messy titles daily. From simple issues like typos, to 'medium' issues like open loan deeds; to the RIDICULOUS (such as the gentleman who owned NOTHING... give me a call and I'll explain that one). In all these cases, Owner's title is your friend and can be your protector! It's a ONE TIME purchase--every time you get a loan, your lender requires the protection--isn't that a clue that YOU should have it too?