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How much does title insurance cost? You only pay for title insurance once?there's no monthly premium. The cost is based on the value of your property as well as the province you're buying in. Based on average home prices from 2021 in Alberta and B.C., $150-$350 is a common range.

For properties with a purchase price under $1,000,000.00, the cost of title insurance is generally $225.00, with $175.00 to the Lender Policy, and $50.00 to the Owner Policy. For every additional $1,000.00 over a purchase price of $1,000,000 the price increases by $0.90.

With the expense of title insurance being under $250.00 in most cases, the benefit in terms of ?peace of mind? makes the purchase of title insurance well worth it. First Canadian Title insures you, the homeowner, against 29 separate listed events, some of which have a very low possibility of occurrence.

Owner's title insurance This is a policy where either the buyer or seller may pay the insurance premiums to protect the buyer's equity in the property.

You can purchase residential title insurance through your lawyer or title insurance company, or you can contact an insurance agent/broker. View a list of insurance companies licensed to sell title insurance in Ontario.

How much does title insurance cost in Ontario? When you invest in title insurance, you will only pay an upfront fee through your lawyer. In Ontario, it will cost around $200-$500 and is often purchased when you buy a property or home. The one-time premium will cover the insured property as long as you own it.

Title insurance works like a standard insurance policy. It protects against future discoveries about a property, some title-related and some non-title-related. It is a form of indemnity insurance for a mortgaged property that covers the loss of an interest in a property due to discovered legal defects.