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Florida
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Florida Title Insurance
 The rates for title insurance in Florida are set
by the state however other title related charges are not so they can vary. There can be a big difference in title related
charges such as document prep fees, title searches, settlement fees, etc. These differences could result in hundreds or even
thousands of dollars. Because of this it still makes sense to shop around for title insurance even in Florida where the
premium is going to be the same. In fact according to Sirmans study, Dumm-Macpherson study, and Alexander report Florida
residents paid more for title insurance services than residents in other states.
This is where myClosingSPACE.com comes in. We get rid of the junk fees and extra charges and offer the lowest title insurance
rates in Florida. Another discount available in Florida is the Butler Rebate, which is discussed in more detail below. myClosingSPACE.com
includes this discount in all Florida title insurance transactions but many companies will not offer it or will make you ask
for it before they will give it to you. To see a comparison of our rates and those of a typical title agency try our
Quick Quote for title insurance quote or
refinance quote now.
Butler Rebate
The Butler rebate in Florida refers to the Supreme Court decision in the 2000 case of Chicago Title Insurance Co. v. Butler, 2000
WL 1535354 (Fla. 2000). In 1992 the Florida Legislature enacted the following laws.
- Require the Department of Insurance to establish rates to be charged for title insurance "risk premium" (i.e., an amount
intended to cover the risk assumed by the insurer and agent in connection with issuance of a title policy, as distinguished
from charges for related services such as closing and settlement costs).
- To guarantee that 30% of the adopted "risk premium" would be paid to the title insurance underwriter.
- To require that at least actual cost must be charged for related title services in addition to the adopted risk premium.
- To prohibit the giving of "unlawful rebates" by a title insurer or title agent.
Butler argued that the anti-rebate law deprived him of his constitutionally protected right to negotiate a title agent’s
commission. The Supreme Court agreed with him. In Florida there is now an available rebate on title insurance commonly
referred to as the Butler Rebate. Many Florida title insurance agents will not offer this discount or will only provide it
when the customer asks about it. Since many customers are not aware of the Butler Rebate they never ask and therefore pay more
than they should.
The policy at myClosingSPACE.com is to include the Butler Rebate in every transaction in
Florida, which means that we offer the lowest rate for title insurance as well as offering the best customer service and
information in the title industry. If you have any questions on the Butler Rebate or any aspect of the Florida title
insurance process please contact customer service
at myClosingSPACE.com and we will be happy to answer any questions you may have.
To find out more about title insurance in other states click on the links listed below:
New York Title Insurance
New Jersey Title Insurance
Pennsylvania Title Insurance
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