Title insurance serves to protect a policy holder or homeowner from loss arising from problems with the title to property. Smith, Thompson, Shaw, Minacci & Colón writes title insurance on several national underwriters. Florida title insurance rates are set by the Florida Department of Insurance. The scale of Florida title insurance rate premiums is as follows based on the insurance amount:
- Up to $100,000 a rate of $5.75 per $1,000 of insurance
- Over $100,000 up to $1 million a rate of $5.oo per $1,000 of insurance
- Over $1 million up to $5 million, a rate of $2.50 per $1,000 of insurance
- Over $5 million up to $10 million, a rate of $2.25 per $1,000 of insurance
- Over $10 million, a rate of $2.00 per $1,000 of insurance
Most lenders also require additional Florida title insurance endorsements, which increase the protection for the lender, and have additional Florida title insurance rates.
First American Title Insurance Company