It is separate from a lender's policy, which protects only the lender, and it is optional, which is why some buyers skip it without realizing what they are giving up. It typically adds a modest amount on top of the legal fees, $800 to $1,500, a lawyer charges to close, and it responds to problems that predate the purchase.
Yes, it can be shopped. A buyer's lawyer typically arranges title insurance through one of a few providers active in Saskatchewan, and it is reasonable to ask whether the lawyer's default provider is the only option before assuming it is.
Ask your lawyer to show you the owner's policy quote separately from the rest of the closing package. Get your hand-reviewed valuation from Joel Dyck.