Is every company selling title insurance in Virginia legally bound to pass through rates as dictated by the state, or does rate premium depend upon particular insuer?
2007-12-18 15:54:17 · 3 answers · asked by Michael 2 in Business & Finance ➔ Renting & Real Estate
No it is not dictated by state, but since there is such fierce competition between title companies, their rates are very similar, if not dead on the same.
In my area, if one title company comes out with some sort of special or offer, you can bet that the others will beat or match it within a day or two.
2007-12-18 19:04:08 · answer #1 · answered by godged 7 · 0⤊ 0⤋
Title insurance rates are not mandated by law. Each insurer determines its own rate based upon risk. However, you will find that rates for title insurance are VERY close and competitive.
Chances are that you won't find a $50 difference between assorted title insurance providers.
2007-12-19 00:00:13 · answer #2 · answered by acermill 7 · 0⤊ 0⤋
Title insurance is an open economy--
capitalistic activity; thus, no fixed rates
2007-12-19 00:03:14 · answer #3 · answered by kemperk 7 · 0⤊ 0⤋