Resources & Forms

To put it simply, title insurance is a way to protect yourself from financial loss and related legal expenses in the event there is a defect in title to your property that is covered by the policy. Title insurance differs from other types of insurance in that it focuses on risk prevention, rather than risk assumption. With title insurance, title examiners review the history of your property and seek to eliminate title issues before the purchase occurs. Title insurance also differs in that it comes with no monthly payment. It’s just a one-time premium paid at closing.

The one-time premium that you’ll pay for a title insurance policy varies by state, but generally is related to the value of your property. You can use our Rate Calculator to estimate how much your title insurance policy may cost. 

Title insurance premiums in New York are regulated and typically fall between 0.5% and 1% of the purchase price. The premium is paid once, at closing, and provides coverage for as long as you own the property.

A title search is a detailed review of public records to verify the property’s ownership history and identify any liens, easements, or defects. Turnaround times vary by county and complexity, but most searches are completed within a few business days.

If a covered defect surfaces after closing, your title insurance policy may provide legal defense and financial protection. This includes attorney fees and compensation for losses related to the defect, up to the policy limits.

Common issues that may be covered include:

• Unpaid liens or debts (taxes, judgments, mortgages)
• Forgery or fraud in past transfers
• Clerical or recording errors in public records
• Unknown heirs or conflicting estates
• Boundary or easement disputes

These issues may not appear until after closing—and title insurance helps shield you from the financial impact.

An Owner’s Title Policy is designed to protect you from covered title defects that existed prior to the issue date of your policy. If a valid claim is filed, your Owner’s Policy, subject to its terms and conditions, will cover financial loss up to the face amount of your policy.

A Lender’s Policy provides no coverage to the homeowner. A Lender’s Policy insures that your lender has a valid, enforceable lien on your property. Most lenders require borrowers to purchase this type of insurance policy to protect their investment.