What is the difference between owner’s and lender’s title insurance?

Owner’s title insurance protects the homeowner from financial losses or legal costs related to title disputes or defects. This one-time purchase ensures that you, as the property owner, are covered. Lender’s title insurance, on the other hand, protects only the lender's interest in the property if a title issue arises. Note that while lender’s title insurance is commonly required, owner’s title insurance is optional but highly recommended.

Is owner’s title insurance a one-time fee?

Yes, owner’s title insurance is a one-time fee paid at the time of closing. Unlike other types of insurance that require monthly or annual payments, this policy remains in effect for as long as you or your heirs hold an interest in the property. Its long-term coverage for a single upfront cost makes it a cost-effective way to protect your investment.

How Much is Title Insurance?

Blue Pointe Title
May 29
3 min read

How Much Title Insurance Costs in Michigan

The process of budgeting for your new home becomes complicated when you consider closing costs. One of the most important pieces? Title insurance. Title insurance costs what amount and does it provide sufficient value to homeowners?

Helping Michigan Homebuyers Since 2018

Since 2018 Blue Pointe Title has operated as your local Michigan title insurance company to assist hundreds of Michigan homeowners with their closing costs and property protection needs. Here’s what you need to know.

The process of purchasing a home already requires significant expenses which makes title insurance seem like an unnecessary additional cost. You might wonder: “Do I really need this?”

Is Title Insurance Just Another Extra Cost?

Title insurance protects you from unknown risks in public records which include unpaid liens and ownership disputes and recording errors and fraud that could result in losing your home or spending thousands on legal fees. Title problems occur frequently throughout Michigan and particularly affect Adrian because its property records date back many years.

Title insurance provides financial protection and legal defense at a cost that delivers substantial value to homeowners. Blue Pointe Title provides clear upfront cost explanations while supporting you through the entire closing process to achieve security.

Finalizing Your Home Purchase? Don’t Skip This Critical Step

Are you preparing to finalize your home purchase? You should never overlook this essential process.

Blue Pointe Title provides simple and budget-friendly protection for your new home.

Title insurance in Michigan costs what amount?

The price of title insurance depends on the property value and loan amount when you finance your purchase. Title insurance premiums in Michigan range between 0.5% to 1% of the sales price.

For example:

A title insurance premium for a $150,000 home costs between $750 and $1,500.
A title insurance premium for a $250,000 home costs between $1,250 and $2,500.

One Payment, Lifetime Protection

The one-time premium payment occurs during closing costs and provides protection throughout your homeownership period. The cost of this protection is minimal considering it will defend your title throughout your entire homeownership period.

Your final title insurance premium amount depends on the following factors:

The purchase price of the home
The loan amount if you have a mortgage
The reissue rate discount applies when you have an existing prior policy.
The specific title insurance company handling the transaction

Honest Costs, Full Coverage

The team at Blue Pointe Title maintains open pricing that avoids any unexpected costs while we verify your eligibility for reissue rates and discount programs.

The process of buying your ideal house becomes possible when you avoid unexpected title problems. The property remains free from unexpected calls from unpaid contractors. The process of ownership rights remains free from legal disputes. You will receive your keys while enjoying absolute peace of mind.

Michigan’s Trusted Title Experts

With a strong history in Adrian and across Michigan since 2018, Blue Pointe Title has seen firsthand how important owner’s title insurance is for real estate buyers. Protect your investment the smart way.

Quick Facts: Title Insurance in Michigan

One-Time Payment: No monthly premiums
Covers Title Disputes: The insurance policy protects against title disputes which include cases of fraud, forgery, unknown heirs, liens and recording errors.
Protects You and Your Lender: The insurance policy protects both you and your lender through separate policy requirements.
Included in Closing Costs: You should include this expense in your upfront closing costs to prevent unexpected costs.
Peace of Mind for Years to Come: The insurance coverage will provide peace of mind throughout the years you own your property.

Why Choose Blue Pointe Title?

Trusted Adrian, MI experts since 2018
Clear, honest explanations for first-time buyers
Up-to-date on the latest market trends and legal requirements
Personalized service and thorough title searches
Competitive pricing with possible reissue rate savings
Committed to making your real estate transaction safe and stress-free

The true value of your home and your peace of mind determines the amount you should spend on title insurance. Blue Pointe Title stands as your trusted Michigan title insurance company which protects your home and peace of mind.