Yes, you have to pay for Title Insurance every time you refinance. The policy that your lender has will go away when it is paid off in the refinance of your property. Your new lender will require a policy to protect their interest in the loan. Title insurance is not transferable, never has been and probably never will be.
Hopefully, this news does not come as a Surprise! Surprise! Surprise! That’s why I’m telling you now before you get to the closing table hungry for a helping of refinance and learn you have an unexpected expense. Refinancing has become more popular as folks are taking advantage of today’s low-interest rates. As you shore up your resources by reducing cost through refinance, keep Title Insurance in mind to protect your now and your future.
Some discounts are available based on your owner’s Title Insurance policy when you purchased your home. Ask about specifics.