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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 $250,000 of insurance written |
$3.90 |
| Over $250,000 and up to $500,000, add |
$3.70 |
| Over $500,000 and up to $1,000,000, add |
$3.40 |
| Over $1,000,000 and up to $2,000,000, add |
$2.25 |
| Over $2,000,000 and up to $5,000,000, add |
$2.00 |
| Over $5,000,000 |
call Company for Quote |
| The minimum premium for a standard owner's policy (i.e. written for $51,000 or less) shall be $200.00. |
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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 $51,000 or less) shall be $240.00.
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| Standard Loan Policy Rates |
| Per Thousand |
| Up to $250,000 of insurance written |
$2.90 |
| Over $250,000 and up to $500,000, add |
$2.70 |
| Over $500,000 and up to $1,000,000, add |
$2.30 |
| Over $1,000,000 and up to $2,000,000, add |
$1.85 |
| Over $2,000,000 and up to $5,000,000, add |
$1.50 |
| Over $5,000,000 |
call Company for Quote |
| The minimum premium for a standard loan policy shall be $200.00. |
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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 $240.00. |
| Simultaneous Issue |
| If an owner's policy and a standard loan policy or policies covering the same real property are to be issued simultaneously and bear the same effective date, then the applicable rate shall be the basic title insurance rate for the owner’s policy or the reissue rate, whichever is applicable, plus $150.00 for each standard loan policy simultaneously issued and in an amount not to exceed, in the aggregate, the amount of the owner's policy. In the event that the aggregate standard loan policy coverage exceeds the amount of the owner's policy, then an additional premium, calculated in the appropriate bracket of the basic title insurance rate for standard loan policies on the amount of the additional loan policy coverage, must also be charged. |
| 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
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| Mechanic's Lien Coverage |
| Extra-hazardous premium charges may be applicable on policies insuring construction loan lenders or outsale purchasers and their lenders for filed and unfiled mechanic’s and materialman’s liens. Issuance of mechanic’s lien coverage is outside the authority of the agent pursuant to the agency contract. Contact Company Counsel for approval for the issuance of these types of policies and for a premium quotation. |
| “One-Year Decedent” Estates |
| Pursuant to underwriting guidelines, a one-time extra-hazardous
premium charge may be applicable on loan and owner’s policies issued
in connection with transactions in which an owner in the chain of title
has died within the year prior to closing. When applicable, the premium is
calculated at the rate of $2.00/$1,000.00 (based on net proceeds) with a minimum
of $250.00 payable direct to the Company. |
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