How long does my owner's title insurance policy last in Ontario?

An owner's title insurance policy in Ontario is a one-time-premium policy that lasts for as long as you own the property. Unlike home insurance, which you renew annually, there is no annual fee or renewal process for title insurance — you pay once at closing and remain covered for the entire period of your ownership.

The coverage also extends automatically to your heirs if they inherit the property from you. This means if you pass the home to a child or other beneficiary through your estate, the existing title insurance policy continues to protect them without any additional premium. The insured amount is typically the purchase price or the current market value at the time of the claim, depending on the policy wording — some policies offer enhanced coverage that adjusts upward with the property's value.

When you sell the property, your owner's policy does not transfer to the buyer. The buyer must obtain their own owner's policy. This is because title insurance protects a specific owner's interest, not the property itself. One practical implication: if you bought your home years ago when title insurance was less common and you did not obtain a policy at the time, it may be possible to purchase a policy now (called a "date-down" or retrospective policy) through a lawyer, though coverage terms may differ.