• MMT App
  • Careers
  • Contact
  • French
  • Find an Expert
  • Home
  • Mortgage Prep
  • Buying a Home
  • Renewal
  • Commercial
  • Rates & Lenders
  • More Value
  • Economic Insights
  • Our House Blog
  • MMT App
  • Careers
  • Contact
  • French
  • Find an Expert
  • All
  • Lifestyle
  • Mortgage Tips
  • Enriched Tips
  • Products
  • Real Estate

Published by DLC Marketing Team

January 17, 2023

What to Know About Title Insurance.

There are many insurance products when it comes to your home, but not all are created equal. One such insurance policy that potential homeowners may encounter is known as “title insurance”.

This particular insurance is designed to protect residential or commercial property owners and their lenders against losses relating to the property’s title or ownership. In fact, it is so important to lenders that every single lender in Canada requires you to purchase title insurance on their behalf. It is not a requirement to have coverage for yourself, but that doesn’t mean you should dismiss it outright. 

While title insurance can protect you from existing liens on the property’s title, the most common benefit is protection against title fraud.

Title fraud typically involves someone using stolen personal information, or forged documents to transfer your home’s title to him or herself – without your knowledge. The fraudster then gets a mortgage on your home and disappears with the money. As the old adage goes: “It’s better to be safe than sorry” and the same goes for insurance.

Similar to default insurance, title insurance is charged as a one-time fee or a premium with the cost based on the value of your property. This insurance typically runs around $300 for the lender and $150 for the individual. It can be purchased through your lawyer or title insurance company, such as First Canadian Title (FCT).

If you are wanting to know more about title insurance, or confirm that you (and your home) are properly protected, don’t hesitate to reach out to a Dominion Lending Centres mortgage expert today for a mortgage review!


Share this:
Categories: Mortgage Tips Products Categories:

Recommended articles.

View More

Unlock Tax-Free Cash with the CHIP Reverse Mortgage

April 3, 2025

As you enter retirement, financial stability may be top of mind. Whether you’re looking to cover unexpected expenses, help family members, or simply enhance your lifestyle, having access to additional […]

Read More

Consolidating Debt in Retirement with The CHIP Reverse Mortgage

February 3, 2025

Managing debt is challenging at any age, but it can be especially stressful in retirement when income is limited. Many Canadians turn to debt consolidation to simplify payments and lower […]

Read More

Refinancing Your Mortgage in 2025

December 10, 2024

Refinancing your mortgage can be a smart financial move for many reasons, and as your trusted mortgage advisor, I’ve seen how much it can benefit homeowners! Ideally, refinancing is done […]

Read More

First-Time Homebuyer Benefits

November 12, 2024

Buying your first home is a significant milestone! While you’re thinking about your affordability and what type of home you want to own, we have some exciting updates around first-time […]

Read More

What the Bank of Canada Rate Drops Mean for YOU!

October 29, 2024

With the Bank of Canada rate decreases throughout the summer and into September, I thought this would be a great opportunity to update you on what this means for your […]

Read More
  • Find an Expert
  • Home
  • Mortgage Prep
  • Buying a Home
  • Renewal
  • Commercial
  • Rates & Lenders
  • More Value
  • Economic Insights
  • Our House Blog
  • MMT App
  • Careers
  • Contact
  • French
  • Find an Expert

© 2025 Dominion Lending Centres Inc. All rights reserved. Privacy Policy Terms & Conditions