Is there any way to save money on Title Insurance? (real post, not troll)
 

I'm closing in three weeks, and my lawyer agreements includes the title
search and the option for title insurance. I don't have an option to obtain
title insurance, but I seem to have some option about where to obtain it
from. My lawyer's agreements states that they receive some portion of the
insurance premium.

Do you know if there is some other path to obtain title insurance (for the
lender and me) than through my lawyer. Is this something I can shop around?
How would I do that. I hate paying for stuff I can't compare prices on,
because I feel like I"m always getting ripped off.

Any thoughts would be great.
P
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El Penguini - 1/2 Penguin, 1/2 Chicken - All Fowl
"Penguins is practically chickens"

Is there any way to save money on Title Insurance? (real post, not troll)
 

On Sun, 25 Jul 2004 14:27:10 GMT, someone wrote:

... My lawyer's agreements states that they receive some portion of the
insurance premium.

Yes, this has been disclosed. Lots of people get paid when things are
bought. Some people are on salaries where the cost is built in, and
some are on commissions like the real estate people and insurance
people where the cost is also built in. (In this case, the issuing
lawyer is also essentially the insurance agent.)

In most states title insurance is regulated in a way that results in
fixed prices for consumers. Nobody pays any less than you, but you
don't pay less than anybody else either.

There are a lot of gripes about the way this industry is structured,
but the way to address that is with years of lobbying and legislative
efforts for everyone. It is too late to reinvent the wheel by the
time one individual is 3 weeks from closing.

-v.