Title insurance is a type of property insurance that you purchase when you're purchasing a property, in case the chain of ownership gets broken and the person who has legal ownership can't be found. If the title to your property gets challenged and in doubt, this type of insurance covers your investment.
If you're buying a home, you'll need to use title insurance calculator. This protects you from any legal issues that may arise from the previous owner's ownership of the home. Title insurance is typically a one-time fee, paid at closing.
To calculate your title insurance cost, you'll need to know the purchase price of your home and the state where the property is located. You can use an online calculator, like the one from Bankrate, to get an estimate of your title insurance cost.
In general, the cost of title insurance is a small percentage of your home's purchase price. For example, if you're buying a $200,000 home, your title insurance might cost around $1,000. That may seem like a lot, but it's a relatively small expense when you consider the overall cost of buying a home.
Keep in mind that the price will vary depending on the value of your home and the state in which you live. However,title insurance is typically a very small percentage of your overall closing costs.