What protection are you buying?
Coverage may address specified title defects, fraud, encroachments or certain existing liens. Exclusions, limits and conditions vary. Ask your lawyer to explain the proposed policy and any issue that the insurer will exclude or treat separately.
Owner coverage and lender coverage
An owner’s policy protects the insured owner. A lender’s policy protects the lender’s interest. A lender’s policy alone does not give you the protection of an owner’s policy. Confirm which coverage is being arranged.
The premium and the closing budget
A premium is generally paid once. Its amount depends on the property and policy. We identify the anticipated premium separately from the legal fee in your closing costs.
Read our disbursement explanation to see how insurance and registration expenses fit into the quote.
Bring these questions to your lawyer
- Who is insured, and which property interests are described?
- What specific exceptions apply to this property?
- Does a known problem need to be resolved before closing?
- What documents should I retain after closing?
Tell your lawyer about an unusual boundary, shared driveway, addition or proposed use early. Do not assume that insurance will make a known concern disappear.
If an issue appears after closing
Keep your policy and closing report accessible. Contact your lawyer and insurer promptly if a potential claim arises, and follow the policy’s notice requirements.
Planning a purchase? Our purchase service page explains how title review fits into the closing process.
Further reading
Need help with your own closing? Request a written quote or call 905 917 0887.
General information for Ontario property transactions. Advice depends on your agreement and circumstances.