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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 District of Columbia Rate Book. To
calculate a rate for a specific transaction use the National Rate Calculator or download the
Excel 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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| Basic Rates for Owners' Policies |
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The term “owner's policy” as used herein shall mean all standard ALTA Owners' Policies. It shall not include the ALTA Homeowners Policy, which is separately addressed on page 4 of the Rate Manual.
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The basic rate premium for original owners' policies
shall be calculated as follows:
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| Per Thousand |
| Up to $250,000 of insurance written |
$5.70 |
| Over $250,000 and up to $500,000, add |
$5.10 |
| Over $500,000 and up to $1,000,000, add |
$4.50 |
| Over $1,000,000 and up to $5,000,000, add |
$3.90 |
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Over $5,000,000 and up to $15,000,000, add |
$1.10 |
| Over $15,000,000, add |
$0.95 |
| The minimum premium for an owner's policy
shall be $300.00. |
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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%. The minimum premium for a homeowner’s policy (i.e. written for $50,000 or less) shall be $360.00.
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| Basic Rates for Loan Policies |
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The basic rate premium for original loan policies
shall be calculated as follows: |
| Per Thousand |
| Up to $250,000 of insurance written |
$4.50 |
| Over $250,000 and up to $500,000, add |
$3.90 |
| Over $500,000 and up to $1,000,000, add |
$3.30 |
| Over $1,000,000 and up to $5,000,000, add |
$2.75 |
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Over $5,000,000 and up to $15,000,000, add |
$0.85 |
| Over $15,000,000, add |
$.075 |
| The minimum premium for a lender's 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%. The minimum premium for an Expanded
Residential Loan Policy shall be $240.00. |
| Rates for Simultaneous Issue of Policies |
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Owners' and Loan Polices: |
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If an owner's policy and a loan policy or policies covering the same real property
are to be issued simultaneously and bear the same date, then
the applicable rate shall be the basic title insurance rate for owner's policies
or the reissue rate, whichever is applicable, plus $150.00 for each loan policy
simultaneously issued, and in an amount not to exceed, in the aggregate, the amount
of the owner's policy.
In the event the ALTA Expanded Coverage Residential Loan Policy is issued in conjunction
with a standard owner's policy, there shall be an additional surcharge in the amount
of 20% of the basic rate for loan policies calculated on the full amount of such
loan policy.
In the event that the aggregate loan policy coverage exceeds the amount of the owner's
policy an additional premium, calculated in the appropriate
bracket of the basic
title insurance rate for standard loan policies or 120% of the basic title insurance
rate for expanded coverage loan policies, on the amount of additional loan policy
coverage, must also be charged.
In all cases,
the owner's policy shall be in an amount equal to the actual purchase
price of the property or, in the event that the transfer to the borrowers is unrelated
to a sale of real property, in an amount equal to either the full assessed value
for tax purposes or the fair market value of the property, whichever is greater.
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Reissue Rates: |
A purchaser or lessee of the same real property from the current insured owner shall
be entitled to the following reissue rates for owner’s
title insurance in an amount up to the face amount of such prior policy:
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The reissue
rates for owner’s or leasehold title insurance shall be as follows:
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| Per Thousand |
| Up to $250,000 of insurance written |
$3.42 |
| Over $250,000 and up to $500,000, add |
$3.06 |
| Over $500,000 and up to $1,000,000, add |
$2.70 |
| Over $1,000,000 and up to $15,000,000, add |
$1.00 |
| Over $15,000,000, add |
$0.85 |
| The minimum premium for an owner's policy shall be $300.00 |
These reissue rates will also apply
if an insured lender
under a current loan policy issued by a licensed title insurer (a) acquires title
through foreclosure by a Deed in Lieu of Foreclosure, (b) requests the issuance
of an owner’s policy, and c) produces the current loan policy.
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| Extra-hazardous Risks |
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An extra-hazardous risk premium may be imposed for affirmative mechanics’ lien coverage, one-year decedent's estates and certain endorsements, etc.
Please consult with your local Company representative for the appropriate extra premium to collect should you be confronted with underwriting a case involving these risks.
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