Title Insurance fees are regulated by the State of Florida. The base rate is $5.75 per thousand up to $100,000 and $5.00 per thousand thereafter up to $1 million. That’s your one-time fee at your real estate closing—it’s one EASY payment that can prevent MEGA payments in litigation fees should your ownership be questioned. I promote title insurance because it’s a relatively small amount compared to the risk of legal defense cost, which can be mightier than your bank account and all your savings put together.
Title insurance pays for your legal defense should someone challenge your property ownership. It pays all your filing costs with the court and for your attorney. The bad news is that your homeownership is in jeopardy—the good news is that your title insurance pays the cost to defend it. Title insurance gives you that peace of mind for as long as you or your heirs have a financial interest in the property. It pays valid claims and covers the cost of a legal defense of your ownership. And it’s a lot cheaper than paying for an attorney yourself.
It also pays out the amount you are insured for should your court case does not come out in your favor. Yes, just because your title search showed up clean and just because you paid for your real estate, someone could have a valid claim to your property. You might still lose your house. Title insurance pays for your legal expenses plus the amount you’re insured for should your defense fail. It protects you against financial loss even if you have property loss.
You could lose your home, but you don’t have to lose your shirt.