# Why is Title Insurance now preferred over a Land Survey?

> Title insurance costs $250–$500 with same-day turnaround, while surveys cost $1,000–$2,000 and take 2–4 weeks — and only title insurance covers fraud and closing-gap risk.

Category: Closing
Last verified: 2026-02-18
Source: https://ratellow.com/faqs/closing/why-is-title-insurance-now-preferred-over-a-land-survey

## Answer
| Factor | Land Survey | Title Insurance |
|---|---|---|
| **Cost** | $1,000–$2,000 | $250–$500 |
| **Turnaround** | 2–4 weeks | Same day |
| **Fraud Protection** | ❌ None | ✅ Identity theft, forged signatures |
| **GAP Coverage** | ❌ No | ✅ Closing gap coverage |
| **Duration** | Snapshot in time | As long as you own the property |

**Strategic Proof:**

- Efficiency: Instant closing with GAP coverage.
- Fraud Protection: Only title insurance covers 'Title Theft' or forged signatures.

## Related guide
- https://ratellow.com/guides/title-insurance-explained

## Sources
- Title Insurance — Financial Consumer Agency of Canada — https://www.canada.ca/en/financial-consumer-agency/services/mortgages/title-insurance.html
- Title Insurance Information — LAWPRO — https://ratellow.com/guides/title-insurance-explained
- Home Buying Guides — CMHC — https://www.cmhc-schl.gc.ca/consumers/home-buying/buying-guides