Title Insurance Rate Comparison Tool

TITLE INSURANCE RATE COMPARISON TOOL

BACKGROUND

To learn why Title insurance coverage is important and required: Title Information.

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TITLE

For the Rate Comparison Tool: Rate Comparison Tool.

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SCOPE

• The information presented in the Rate Comparison Tool applies to residential real estate transactions but not commercial real estate transactions.
• Rates shown represent a standard Owner's policy, protecting the Owner, and a standard Lender’s policy, protecting the lender.
• Values shown are the company's filed risk rates and other common charges and discounts. In other words, rates shown do not include abstract or attorneys' fees for title opinions or certificates. Nor do they include charges for title searches, escrow services, or closing services charged by or paid to local attorneys, abstractors, and title companies.
• Rates relate to a one to four family residential dwelling.

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INFORMATION SHOWN FOR EACH COMPANY

Basic Rates for Various Coverage Amounts

These are the filed Owner’s base policy rates and Lender’s base policy rates for the following Amounts of Coverage: $50,000; $100,000; $150,000; $200,000; $250,000; $350,000; $500,000. The Amount of Coverage that will apply is typically based on purchase price or loan amount but may vary in certain circumstances.

Reissue Discount

This discount will normally apply only when the policy is to be issued on real property currently insured by an Owner's policy issued within the last 10 years. (The Reissue Discount will apply to the Owner’s policy and may also apply to the Lender’s policy.)

Builders / New Home Discount

This discount will apply when the transaction does not represent a resale of property. It normally applies to the Owner’s policy only and not the Lender’s policy.

Simultaneously Issued Lender’s Policy Charge

This nominal charge takes the place of the Lender’s policy rate when the Lender’s policy is issued at the same time as the Owner's policy.

Charge per Endorsement

The charge shown is the typical charge for an endorsement, but some endorsements may cost more or less. The typical transaction involves two or three endorsements depending on mortgage requirements. Please check with the title insurer to determine endorsements that may apply.

Closing Protection Letter Fee

This amount is normally charged as a per letter fee but is sometimes charged as a flat fee for the entire transaction. Parties that may receive a closing protection letter include Buyer(s), Seller(s), Lender, & Borrower(s).