The North Carolina Department of Insurance has approved a new rate structure for title insurance that will become effective on March 1, 2012, and will apply to all commitments for title insurance issued in North Carolina on or after that date.  Highlights of the new rate structure are outlined below.  The Regular Rates for Title Insurance and Closing Protection Letters will remain the same.  However, several additional premiums have been introduced.  If we at Barristers Title Services can answer any questions that you may have regarding the new rate structure, or if we can assist you in any way, please do not hesitate to contact us.

New Title Insurance Premiums:

  • In addition to the regular rates, a $25.00 premium will be charged per Loan Policy when simultaneously issued with an Owner’s Policy
  • In addition to the regular rates, a $15.00 premium will be charged for each commitment issued;
  • In addition to the regular rates, a $20.00 premium will be charged for each ALTA 5, ALTA 8.1, and ALTA 9 Endorsement issued.

Regular Title Insurance Rates for a Lender’s and/or Owner’s Policy Per Thousand
The minimum premium for regular rates is $50.00.

Up to 100,000

100,001 to 500,000

500,001 to 2,000,000

2,000,001 to 7,000,000

The Rates for a Closing Protection Letter (“CPL” ) Per Thousand
A Reissue Rate of 50% of the Regular Rate up to the amount of the prior policy will still be given for a prior policy on the same property which is less than 15 years old.      

Up to 100,000

100,001 to 500,000

500,001 to 2,000,000

Please be aware that Barrister’s Title Services has adopted the North Carolina Title Insurance Rating Bureau filing for title insurance rates approved by the North Carolina Department of Insurance.

 Quick Facts

•These are comprehensive rates adopted by all major title companies in North Carolina.

• Only prior policies 15 years old or less qualify for reissue credit and evidence of the prior policy is required via a copy of the prior or a HUD from the prior transaction only.

•Rate categories including developer rates and temporary construction policy rates have been eliminated. Regular rates or reissue rates, when applicable will apply.

• When a policy is issued in a subdivider/builder/developer within 15 years the rate shall be 50% of the regular rate up to the sales price of the individual lot, unit or tract subdivided from the land originally insured. The previous policy or HUD must be provided to the insurer to receive reissue.

• The only other special rate categories include the ALTA Homeowner’s Policy or Enhanced Policy that includes 25 additional coverages with a premium of the applicable rate plus 20% of the regular rate and limited coverage products.

• The Closing Protection Letter premium does not change.

• Any new orders opened on or after September 2010 will be subject to the new rate structure. Quotes on existing commitments prior to September 2010 will be valid.

• A posting of the full rate filing is available on the N.C. Department of Insurance Web site or you can call us for the rate book and a general summary of rates.