Title Insurance... what's that?

Courtesy of express.ctic.ca

Title Insurance

Are you thinking about buying a home or you recently bought a home? Has anyone discussed the importance of purchasing title insurance with you? If yes, then keep reading for a refresher on why you made a great decision. If not, this blog aims to provide you with the right footing to understand the importance of title insurance and why you should have it for your home.

What IS title insurance, you may ask?

In the most basic terms, title insurance protects your ownership interest in your property.

What is title insurance protecting me FROM?

At the time that you purchase a property, there may be unknown title defects or other matters that come to light at a later date, which makes title insurance an incredible safety net for facing the unexpected. More specifically, though, some of the issues title insurance can protect you from are (not exhaustive):

  • Someone else claiming an interest in your title
  • Fraud, forgery and false impersonation affecting the validity of your title
  • Existing liens against the title including realty tax arrears and municipal utility charges
  • Violations of municipal zoning by-laws
  • Many forms of encroachments onto the property or adjoining land
  • Existing work orders
  • Lack of legal access to the property
  • Unmarketability of land due to adverse matters that an up-to-date survey/ Real Property Report (RPR)/ Building Location Certificate would have revealed

Will Title Insurance cost me my arms AND legs?

The premium for title insurance is very reasonable for the peace of mind and protection it provides. On average, title insurance can run you a onetime fee between $50 to $250 dollars and your coverage is valid for the duration of your ownership. The policy coverage amount is typically equal to what you paid for your property.

How do I GET Title Insurance?

Great question. Now that you know what it is and how important it is to protecting your property, how on earth do you actually get title insurance?

There are many different companies that can provide you with title insurance and, of course, some are more reliable and credible than others. Call around to a few companies and get quotes and information from them. Ask the same set of questions to each company you call so that you have a good basis for comparison. If you’d like to know which companies I refer my clients to, please feel free to send me an email and I will happily send you names and numbers of the professionals that I recommend.

If you do not have title insurance yet, today is the day to change that and protect your right to your property!

Warmest regards,


~ Helping you SEE Possibilities ~

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Justina LeeStolz

Justina LeeStolz

Personal Real Estate Corporation
CENTURY 21 Assurance Realty Ltd.
Contact Me