Title insurance is a form of indemnity insurance that protects the holder from financial loss sustained from defects in a title to a property. (i.e. You may take ownership subject to existing liens or encumbrances or easements that may have been granted to utility companies or adjacent property owners.)
A low, one-time premium is all you pay to obtain the protection and peace of mind of a Title Insurance Policy. So long as ownership remains in your name or that of your heirs, there is no additional cost. The policy is issued in an amount equal to the purchase price you pay.