Calculateur d'Assurance Titre
Estimez le coût de l'assurance titre pour votre transaction.
Total Title Insurance Cost
$2,000
Total Title Insurance Cost vs Owner Policy Rate (per $1,000)
Formule
Title Insurance Explained
Title insurance protects against financial loss from defects in title to real property, such as liens, encumbrances, or ownership disputes.
Two Types of Policies
Simultaneous Issue Discount
When both policies are issued at the same time, the lender policy is significantly discounted (typically 25-40% off) because the title search has already been done.
Rate Factors
Title insurance rates vary by state, some of which regulate rates. Rates generally range from $2 to $6 per $1,000 of coverage.
Exemple Résolu
A $400,000 property with a $320,000 loan. Owner rate $3.50 per $1,000, lender rate $2.50 per $1,000, 25% simultaneous issue discount.
- 01Owner policy: $400,000 / 1,000 x $3.50 = $1,400
- 02Lender policy (full): $320,000 / 1,000 x $2.50 = $800
- 03Simultaneous discount: $800 x 25% = $200
- 04Lender policy (discounted): $800 - $200 = $600
- 05Total title insurance: $1,400 + $600 = $2,000
- 06Cost as % of property: $2,000 / $400,000 = 0.50%
Questions Fréquentes
Is owner title insurance required?
Lender title insurance is required when you have a mortgage. Owner title insurance is optional but strongly recommended. It protects your equity against title defects that could cost you the property. The one-time cost is small relative to the protection.
Can I shop for title insurance?
Yes. In most states, you have the right to choose your own title company. Rates can vary by 10-30% between companies. In some states, rates are regulated and fixed, so the savings come from reduced ancillary fees.
What does title insurance cover?
Title insurance covers losses from defects existing before the policy date: forged documents, unknown liens, undisclosed heirs, recording errors, boundary disputes, and more. It does not cover issues arising after the purchase.