RATES

The premium rates charged for Maryland Lender's and Owner's title insurance policies must be approved by the Maryland Insurance Administration. Therefore, once they are approved, the rates cannot be increased or discounted by individual title insurance agents.

Title Insurance

BASIC RATES FOR OWNER'S POLICIES

The term "owner's policy” as used herein shall mean all standard ALTA Owner's Policies in all its various forms. It shall not include the Owner's Advantage Residential Policy, which is separately addressed herein. The basic rate premium for original Owner's policies shall be calculated as follows:

  Per Thousand
Up to $250,000 of insurance written $4.35
Over $250,000 and up to $500,000, add 3.75
Over $500,000 and up to $1,000,000, add 3.20
Over $1,000,000 and up to $5,000,000, add 2.50
Over $5,000,000 and up to $15,000,000, add 1.65
Over $15,000,000, add 1.55

The minimum premium for an Owner's policy (i.e. written for $40,000 or less) shall be $150.00

RATES FOR THE OWNER'S ADVANTAGE RESIDENTIAL POLICY

The basic rate premium for an original Owner's Advantage Residential Policy shall be calculated by multiplying the applicable basic title insurance rate premium for an Owner's title insurance policy (see chart above) by 120%.

BASIC TITLE INSURANCE RATES FOR LOAN POLICIES

The basic rates premium for original mortgage title insurance shall be:

  Per Thousand
Up to $250,000 of insurance written $2.95
Over $250,000 and up to $500,000, add 2.65
Over $500,000 and up to $1,000,000, add 2.40
Over $1,000,000 and up to $5,000,000, add 1.60
Over $5,000,000 and up to $15,000,000, add 1.20
Over $15,000,000, add 1.15

The minimum premium for an Owner's policy (i.e. written for $40,000 or less) shall be $150.00

REISSUE TITLE INSURANCE RATES FOR LOAN POLICIES

The reissue title insurance rate for loan policies is applicable to all standard and short form loan policies insuring first mortgages, second mortgages and mortgages securing construction and credit line loans. In all cases, the burden of proving eligibility for the reissue title insurance premium for loan policies shall be on the borrower(s) who must produce a copy of the current Owner's title policy for the same real property at or prior to closing.

  Per Thousand
Up to $250,000 of insurance written $2.61
Over $250,000 and up to $500,000, add 2.25
Over $500,000 and up to $1,000,000, add 1.92
Over $1,000,000 and up to $5,000,000, add 1.50
Over $5,000,000 and up to $15,000,000, add 0.99
Over $15,000,000, add 0.93

The minimum premium for an Owner's policy (i.e. written for $40,000 or less) shall be $150.00

For additional assistance with calculating Title Insurance rates, please email info@MarylandTrustTitle.com.

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October 2015