Question:

What is the average cost of title insurance?

Answer:

It is impossible to say what the average cost of title insurance is. Title insurance is regulated differently in all different states. Some states set the cost of title insurance and there is no variance within the state - New Mexico and Florida are among the states that set title insurance prices.

Sometimes title insurance cost will be grouped with title search costs; sometimes it is offered separately. Or, in some states there are title insurers - title insurance companies and agencies to provide all title-related services. Also, sometimes escrow companies offer title services.

How do I choose a title insurance provider?

Most borrowers would take advice from a real estate lender or agent when selecting title insurance policy and coverage. In states that do not regulate the cost of title insurance it may be a good idea to shop on your own, especially in the states where title insurance is allowed to vary among title insurance providers.

It is good idea to ask the lender for recommendation on title insurance policy and still shop - especially if you are an owner of a larger residence, shopping for title insurance might save you lots of cash.

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