I paid cash for my home in TV and did NOT purchase Title Insurance. Upon a Google search the response is as follows;
http://www.bankrate.com/brm/news/DrDon/20021219a.asp
I too am Ms Frugality and a risk-taker when it comes to insurance. Feel most insurance coverage is a waste of money. You pay and pay and pay and if you make a claim, they drop you like a hot 'tater.
They also try to sell title insurance when purchasing an auto from a dealer. DO NOT ALLOW them to add $$$$ to the bill of sale for this insurance; some auto dealers even have the gaul to have this charge ($500+) imprinted on the bill of sale. Total waste of money.
I challenged this charge with a local auto dealer in Leesburg when I bought a car there, and they wrote me a check to refund this charge.
Just my opinion, for what it's worth. .....barb