Most title insurance transactions are entitled to a significant discount on the title insurance premium. Title insurance rates are filed with the Pennsylvania Insurance Commission and provide for tiered discounts based on the amount of time since the last issuance of a title insurance policy. Some examples:
- A homeowner refinancing a Mortgage originally recorded 3-4 years ago is entitled to nearly a 30% discount.
- If the same homeowner signed a Mortgage recorded within the last two years, then he or she is entitled to nearly to a 40% discount.
- Haven’t signed a Mortgage in recent years? Don’t worry. If you signed a Mortgage within the last ten years, you are entitled to a premium discount of 10% off of the basic rate.
- Don’t have a Mortgage – no problem, your discount will be based upon the recording date of your insured Deed.
- Buying a property? There are various discounts available to purchasers from 10% to almost 20% off the basic rate depending upon your transaction and property.
There are restrictions, albeit very limited, so give us a call or use the contact form above if you have any questions.