Frequently Asked Questions
1. How does FreeTitleQuote.com save me money on title insurance?
Our network of Title Company providers pay us for the chance to give you Free Title Quote’s to gain your business. FreeTitleQuote.com gives you the opportunity to receive up to 5 Title Insurance Quotes from competing providers in your area. Our network of providers all know that they are competing for your business, so you end up with the best possible price and save money.
2. How many title insurance quotes will I receive?
You will receive up to five title insurance quotes. You decide who will provide the best service at the best rate.
3. How will I receive my quotes?
You will receive an email of the quote directly from each title insurance company with all their contact information. You can always call any of these companies – they are all competing for your business!
4. Why choose FreeTitleQuote.com?
When purchasing or refinancing real estate, most Sellers/Buyers let the Realtor/Lender choose the title insurance company – but you have a right to choose by State law if you are paying the Title Policy. If your Realtor/Lender has selected your Title Insurance Company for you, inquire as to why. Many Realtors/Lenders have an ownership interest in a title company. This can result in increased fees for you the consumer. FreeTitleQuote.com gives you the opportunity to receive up to 5 Title Insurance Quotes from competing providers in your area. Our network of providers all know that they are competing for your business, so you end up with the best possible price and save money.
5. What does title insurance cost?
To use our service is free! Title Insurance premiums are directly related to the value of the property. The higher the value, the more coverage is needed. The premium is small compared to the total purchase price. The premium is paid only once and remains in force for as long as the property is owned by the insured and continues to protect the insured on warranties after it is sold.
6. What is title insurance?
Title insurance is insurance against loss from defects in title to real property and from the invalidity or unenforceability of mortgage liens. It is meant to protect an owner’s or lender’s financial interest in real property against loss due to title defects, or liens. It will defend against a lawsuit attacking the title as it is insured, or reimburse the insured for the actual monetary loss incurred, up to the dollar amount of insurance provided by the policy.
7. What is an owner’s title Policy?
The owner’s policy insures a purchaser that the title to the property is vested in that purchaser and that it is free from all defects, liens and encumbrances except those which are listed as exceptions in the policy or are excluded from the scope of the policy’s coverage. It also covers losses and damages suffered if the title is unmarketable. The policy also provides coverage for loss if there is no right of access to the land. Although these are the basic coverage, expanded forms of residential owner’s policy exist that cover additional items of loss.
8. What is a lender’s title policy?
The loan policy protects the lender against loss due to unknown title defects. It also protects the lender’s interest from certain matters, which may exist but may not be known at the time of sale. This policy only protects the lender’s interest. It does not protect you. That is why you need an owner’s policy, which can be issued at the same time as the loan policy for a nominal one-time fee.