Title insurance? Pro and Cons?

[Chris T.]

Hello all. I'm new to BP but has some limited experience with real estate investing.  First time post!

Anyways, I want to get your thoughts on title insurance. I just recently purchased my 2nd property through sheriff auction (with a lot of help w/ investor), and got my deed recorded. 

As far as I can tell, the title is clean but I am still new at this. Obviously I am stuck with this property regardless, but my question is, is it worth while for me to still buy a title insurance? My goal is to flip this house. Back up exit strategy is to rent it out / cash out refinance. The property is in Will County in the chicago land area. 

Any comments or feedback are greatly appreciated.