Title Insurance 101

What is Title?

When you buy property, you are not only buying the physical property, but also the abstract right to possess, or own, that physical property. "Title" is the legal term for owning property.

When property is bought and sold, the title (right to own the property) is transferred from one owner to another. Because the legal concept of title is abstract, problems can and likely will arise.

What is Title Insurance?

Title insurance is an insurance policy that protects the buyer in case of inaccuracies or issues undiscovered when the title of property is transferred to the new owner. Common problems include unpaid debt on the property, lost beneficiaries, fraud and simple document errors.

A title search is always performed to detect any problems. However, your title insurance will protect you against any problems a search will miss. How can something be missed in a title search?  There may be errors in the public records, legal descriptions, or a mortgage could even be recorded in the wrong county!  If that happens, it can't be found in a properly run title search.

Koontz and Associates is an authorized agent for Old Republic National Title Insurance Company.

Should You Buy Title Insurance?

Title insurance is a one-time time fee based on the purchase price of your home. Your policy will be effective for the length of time you hold title on the property. It will protect you and your home from anyone trying to claim ownership of your home and land. Comparatively, title insurance is a nominal fee to protect your home from claims made against it.

How much does title insurance cost?

In Florida, title insurance costs are set by the State.  That means, you don't need to shop around for pricing.  You need to find a professional that you trust.  There are law firms that issue title insurance and non-lawyer title companies as well.  Be sure you understand what the scope of representation is before hiring a closing agent.


The owner's title insurance premiums are $5.75 for the first $1,000 up to $100,000 and $5.00 for every thousand over $100,000 up to $1 million.

So the title insurance on a $300,000 house would be $1,575

  • $5.75 * 100 (first 100 thousand) = $575
  • $5.00 * 200 (remaining 200 thousand) = $1,000

To find out how much your title insurance will cost, use this calculator


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