How much does title insurance cost for a home purchase in Ontario?

Title insurance in Ontario is purchased for a one-time premium at closing — there is no ongoing annual fee. The premium is based primarily on the purchase price (or the value of the property) and varies between title insurance providers. For a typical residential purchase in the range of a few hundred thousand to a million dollars or more, the combined owner's and lender's premium often totals in the range of several hundred to over a thousand dollars, though the exact amount depends on the insurer and the specific policy terms.

Your real estate lawyer will typically obtain a title insurance quote as part of preparing for closing, and the cost is disclosed in your statement of adjustments or closing cost summary. Major title insurance providers operating in Ontario include FCT (First Canadian Title) and Stewart Title, among others. Lawyers sometimes have working relationships with particular providers, but you are entitled to ask questions about your options.

Because the premium is a one-time charge and the owner's policy protects you for the entire period of ownership — including all the years you own the home — the cost is generally considered good value relative to the protection it provides, particularly given the risks of title fraud and hidden defects in the Ontario market.