title insurance

The short and ONLY answer is YES - you can - and should - shop for title insurance.

 In 2007, the Government Accountability Office (“GAO”) released a report titled, “Title Insurance:  Actions Needed to Improve Oversight of the Title Industry and Better Protect Consumers.”  In the report, the GAO focused squarely on the link between consumer shopping for title insurance and the cost for such services and determined that consumers find it difficult to shop for title insurance.  Of the two actions the GAO recommended HUD undertake to improve the functioning of the title insurance market, the first was to “improve consumers' ability to shop for title insurance based on price.” In light of these findings, I commend HUD for its focus on improving RESPA disclosures to encourage consumers to shop for lower-priced settlement services.

This GAO report was the catalyst for www.entitledirect.com - a new title insurance distribution channel that offers title insurance directly to consumers at a 35% discount. As an employee of EntitleDirect, I can tell you unequivocally that we offer the lowest title insurance rates in the country and you have the right to choose your title insurance provider. I encourage you to check out www.entitledirect.com but you can also compare rates on a new site called www.closing.com.

Let me know if I can help further.

The short answer is 'yes'...maybe...

Title insurance is used during a sale or refinance to ensure that the property is being transferred cleanly with no clouds that could cause ownership issues.  In CO purchases the title company is typically chosen by the seller although it can be chosen by the buyer.  Although there may not be a big difference in companies' policies there may be some money to be saved.  Many title companies will offer discounts for having had title work done within the last 3 to 5 years (recent purchase or refinance).  Ask your agent or lender if it's a refi.  Hope that helps.