009: Title Insurance Explained: What Florida Buyers Actually Pay For

Title insurance shows up on almost every closing statement, but most buyers have no idea what they’re actually paying for. Chelsea Metka breaks down what the policy covers, why it protects against past defects instead of future risk, and why the one-time premium works differently than any other insurance product buyers own.

Chelsea walks through the split between owner’s and lender’s policies, explains why skipping owner’s coverage almost always costs buyers more in the end, and unpacks Florida’s promulgated rate system, the state-mandated pricing table that keeps premiums identical no matter which company issues the policy. She also flags the one document every buyer should request before signing a contract: an estimated settlement statement.

Buyers walk away knowing exactly what question to ask before they pick a title company.

In this episode, you will hear:

• What title insurance actually covers and why it protects against past defects, not future risk
• The difference between a one-time premium and ongoing insurance payments
• Owner’s title insurance versus lender’s title insurance and who each one protects
• Why skipping owner’s coverage almost always costs buyers more in the long run
• Who typically pays for which policy in a Central Florida transaction
• Florida’s promulgated rate system and why premiums don’t vary between companies
• The one document buyers should request before signing any contract

Resources from this Episode

https://metkalawfirm.com/title-escrow-closing/

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via Metka Law Firm https://metkalawfirm.com/title-insurance-explained-what-florida-buyers-actually-pay-for/