Florida sets title insurance rates by law, so the owner's policy premium on your home is the same at every title company in the state. The rate is $5.75 per $1,000 on the first $100,000 and $5.00 per $1,000 from there up to $1 million. Enter your price below to see your number.
Florida is a promulgated rate state. The state writes the rate schedule, and every title insurer and title agent in Florida charges from that same schedule. You can't shop the premium. You can only shop the people who issue it.
The premium is figured on the amount of coverage, which for an owner's policy is the full value of the property, so in a normal sale it's the purchase price. The schedule works in layers, a lot like tax brackets. Each slice of coverage is charged at its own rate per $1,000, and the slices add up:
| Coverage amount | Rate per $1,000 |
|---|---|
| First $100,000 | $5.75 |
| $100,000 to $1 million | $5.00 |
| Over $1 million to $5 million | $2.50 |
| Over $5 million to $10 million | $2.25 |
| Over $10 million | $2.00 |
Two small rules round it out. Any fraction of $100 of coverage counts as a full $100, so the calculator rounds your price up to the next hundred. And the minimum premium is $100, which only matters on very small policies.
Here's the math on a $300,000 home: the first $100,000 at $5.75 per thousand is $575, and the next $200,000 at $5.00 per thousand is $1,000. That's a $1,575 owner's policy. A $1,000,000 home comes out to $5,075.
Source: Florida Administrative Code Rule 69O-186.003, Title Insurance Rates, subsections (1), (2) and (5), last amended January 27, 2002. Full text at flrules.org.
Most financed purchases come with two title insurance policies, and they protect two different people. The owner's policy protects you. It covers your ownership against defects that existed before you bought, like a forged deed, a missed heir, or an old lien that slipped through, and it lasts as long as you or your heirs own the property. You pay for it once, at closing.
The lender's policy protects the bank. Florida's rule says it can't be issued for less than the full loan amount, and it can go up to 25 percent above the loan to cover interest and foreclosure costs. It shrinks as you pay the loan down and ends when the loan is paid off. If you're paying cash, you only need the owner's policy, so leave the loan box blank. We break the two down further in our owner's title insurance guide.
This is the best deal at the Florida closing table, and most buyers never notice it. When the owner's policy and the lender's policy are issued at the same time on the same property, the lender's policy costs a flat $25, as long as the loan amount doesn't exceed the owner's policy amount.
If the lender's policy is bigger than the owner's policy, the extra coverage is charged at the regular mortgage policy rates on top of the $25. The calculator handles that for you. Both policies also have to carry the same date, and the title has to be examined through the recording of both the deed and the mortgage, which is part of what we do on every closing.
There's no single statewide answer. Who pays for the owner's policy comes down to local custom and, more importantly, your purchase contract. In much of Florida the seller pays for the owner's policy, but in some counties the buyer customarily pays, and the contract can assign it either way. Read the title section of your contract before you sign it, since that's the line that decides it.
The lender's policy is usually the buyer's cost because it's tied to the buyer's loan. If you want to see where each charge lands, our guide on reading a Florida title commitment walks through the document that lists every requirement before closing.
The premium is the one title charge that's fixed by the state. Everything around it isn't. Your settlement statement will also show title search and examination fees, the settlement or closing fee, endorsements your lender asks for, a municipal lien search, recording fees, and, in an HOA or condo community, an estoppel certificate. Those are the numbers worth comparing between title companies.
Then there are the state taxes. Florida charges documentary stamp tax on the deed and on the mortgage, plus intangible tax on new mortgages. We explain who pays which one in our Florida doc stamp tax guide. If you're financing and want the lender side of the picture too, this breakdown of mortgage closing costs covers the loan fees that land on the same statement.
Florida's owner's policy premium is set by state rule: $5.75 per $1,000 of coverage on the first $100,000 and $5.00 per $1,000 from $100,000 to $1 million, with lower rates above that. On a $300,000 home that works out to $1,575. The minimum premium is $100.
Not the premium. Every title company in Florida has to charge the same promulgated rate for the same policy. What does change from company to company is the settlement fee, the search fee, and how fast and clearly they work your file.
It depends on local custom and your purchase contract. In much of Florida the seller pays for the owner's policy, but in some counties the buyer customarily pays, and the contract can assign it either way. The buyer usually pays for the lender's policy because it's tied to the buyer's loan.
When the owner's policy and the lender's policy are issued together on the same property, the lender's policy costs a flat $25 as long as its amount doesn't exceed the owner's policy. Any lender coverage above the owner's amount is charged at the regular mortgage policy rates.
Yes, in some cases. If the seller's owner's policy was issued less than 3 years ago, Florida's lower reissue rates can apply up to the prior policy amount, starting at $3.30 per $1,000 on the first $100,000. We need a copy of the prior policy to apply it, so send it over early.
Want a full estimate with our fees included? Tell us the price, the loan, and the closing date on our title quote form, or see everything we handle on our services page.