Do title companies charge different rates for title insurance?
Title insurance rates are set by and regulated by the state insurance commission. You only pay the premium once. The cost depends upon the purchase price of the property (owner’s property), and the loan amount (lender’s policy). Your closing agent will quote you that price either upon your inquiry or at the time of closing. What types of policies are available to me as a homeowner? For the average property owner, there are two different types of title insurance policies that you need to be aware of: Owner’s Title Insurance Policy Mortgagee’s Title Insurance Policy Since most property owners mortgage or borrow money at the time of purchase or during ownership, the lender can be expected to request protection of its investment against loss. Lenders know that many things can cause loss of title or that expenses are incurred while defending a claim. They insist upon a Mortgagee’s Title Insurance Policy to protect their stockholders’ and investors’ investment in your property. An Owner’s Ti
