Florida title insurance calculator

How the premium is set

The Florida Office of Insurance Regulation sets the rates in Rule 69O-186.003. The owner's policy is priced per $1,000 of coverage in tiers:

• $5.75 per $1,000 up to $100,000
• $5.00 per $1,000 from $100,000 to $1 million
• $2.50 per $1,000 from $1 million to $5 million
• $2.25 per $1,000 from $5 million to $10 million, then $2.00

The minimum premium is $100. A $650,000 policy costs $575 for the first $100,000 plus $2,750 for the rest, $3,325 in total.

The lender's policy

If you finance, the lender requires its own policy. Issued at the same closing as the owner's policy, it costs a flat $25 as long as the loan does not exceed the price. Endorsements the lender asks for, such as the condo or environmental endorsements, are added on top.

Reissue rate

If the seller bought with an owner's policy that took effect less than 3 years before your policy, the premium is charged at the lower reissue rate on coverage up to the old policy amount: $3.30 per $1,000 up to $100,000, $3.00 up to $1 million, $2.00 up to $10 million and $1.50 above. Coverage above the old amount is charged at the regular rate. The title agent must have a copy of the prior policy, so ask the seller for it early.

Who pays

It depends on the county. In Miami-Dade, Broward, Collier, Sarasota, Martin and much of the Panhandle the buyer customarily pays and picks the title company. In most of the rest of the state, including Tampa Bay and Orlando, the seller pays. The contract decides in the end.