Insurance that protects against financial loss from defects in the title to a property. In Florida, both the buyer (lender’s policy) and seller typically purchase title insurance. The seller usually pays for the owner’s policy (except in Miami-Dade, Broward, Sarasota, and Collier where the buyer pays). Florida uses promulgated title insurance rates.
Definition reviewed by Renzo Johnson, Licensed MLO, NMLS #PENDING. Last updated February 2026.