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Rate Information
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Rate Summary
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The following information is provided as a quick reference guide.
For a detailed description of Chicago Title’s rate policies please
refer to the Virginia Rate Book. To
calculate a rate for a specific transaction use the rate calculator.
If you have any questions regarding rates, or need assistance with
rate calculation, please feel free to call your local underwriter.
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| Standard Owner’s Policy Rates |
| Per Thousand |
| Up to $100,000 of insurance written |
$3.90 |
| Over $100,000 and up to $500,000, add |
$3.40 |
| Over $500,000 and up to $1,000,000, add |
$3.00 |
| Over $1,000,000 and up to $2,000,000, add |
$2.00 |
| Over $2,000,000 |
call Company for Quote |
| The minimum premium for a standard owner's policy (i.e. written for $32,000 or less) shall be $125.00. |
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| Homeowner’s Policy Rates |
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Homeowners’ policy rates are 20% higher than standard owner’s policy rates. To figure a Homeowner’s policy premium, calculate the premium for a standard owner’s policy and multiply it by 120% or 1.2. The minimum premium for a homeowner’s policy (i.e. written for $32,000 or less) shall be $150.00.
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| Standard Loan Policy Rates |
| Per Thousand |
| Up to $100,000 of insurance written |
$2.90 |
| Over $100,000 and up to $500,000, add |
$2.40 |
| Over $500,000 and up to $1,000,000, add |
$2.00 |
| Over $1,000,000 and up to $2,000,000, add |
$1.50 |
| Over $2,000,000 |
call Company for Quote |
| The minimum premium for a standard loan policy shall be $100.00. |
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| Expanded Residential Coverage Loan Policy Rates |
| Expanded Residential Loan Policy rates are 20% higher than standard loan policy rates. To figure an Expanded Residential Loan Policy premium, calculate the premium for a standard loan policy and multiply it by 120% or 1.2. The minimum premium for an Expanded Residential Loan Policy shall be $120.00. |
| Simultaneous Issue |
| When one or more loan policies are issued simultaneously with an owner’s policy in an amount not to exceed, in the aggregate, the amount of the owner's policy, a simultaneous issue fee of $100.00 per policy shall be charged. In the event that the aggregate loan policy coverage exceeds the amount of the owner's policy, an additional premium, calculated in the appropriate bracket of the title insurance rate for the loan policy on the amount of the additional loan policy coverage, shall also be charged. If an Expanded Residential Loan Policy is issued with a Standard Owner’s Policy, a surcharge of 20% of the regular rate on the full amount of the loan policy shall also apply. |
| Reissue |
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A reissue credit or rate shall apply based on the amount of liability of any current owner’s policy issued within the past 10 years by any title insurer licensed by the Virginia Bureau of Insurance. Reissue rates or credits apply up to the lesser of the liability amount of either the policy to be issued or the current owner’s policy. Basic rates in applicable premium bracket(s) apply to the amount of the policy to be issued in excess of the current owner’s policy amount.
Reissue Rate Where applicable, the reissue rate shall be 70%.
OR
Reissue Credit Where applicable, the reissue credit shall be 30%. To calculate a reissue premium using a reissue credit first figure the full basic premium for the policy to be issued then subtract the applicable reissue credit as follows: 1) figure a premium amount using a) the lesser of the liability amount of either the policy to be issued or the current policy and b) the rates for the policy to be issued, then 2) multiply the resulting premium amount by 30%.
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| Extra-hazardous Risks |
| An extra-hazardous risk premium may be imposed for affirmative mechanics’ lien coverage, one-year decedent's estates and certain endorsements, etc. Please consult with your local Company representative for the appropriate extra premium to collect should you be confronted with underwriting a case involving these risks. |
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