Top Title Insurance Companies in the U.S.

Photo by wvhomes, CC BY-SA 2.0, via flickr, http://farm7.static.flickr.com/6206/6110115572_951e9a03d6_m.jpg
Photo by wvhomes, CC BY-SA 2.0, via flickr, http://farm7.static.flickr.com/6206/6110115572_951e9a03d6_m.jpg

What is Title Insurance?

It's a type of insurance that assures you the property you are buying is covered by a clean real estate title, or a title without problems. This also assures the mortgage lender that it's financing a property with a good title.

What does a title insurance company do?

It issues title insurance policies, but before it issues a policy, it searches public records to look for problems associated with the title and fixes the problems. It also pays claims when a problem with the insurance-covered title arises in the future.

Photo by naplesrealestate,CC BY 2.0, via flickr, http://farm1.static.flickr.com/134/398169084_aa082059a8.jpg
Photo by naplesrealestate,CC BY 2.0, via flickr, http://farm1.static.flickr.com/134/398169084_aa082059a8.jpg

What are some of the problems associated with real estate titles?

A title with problems could be one that has one or more of the following:

  • Titles with liens or encumbrances
  • Titles with interests and rights of others
  • Use of falsified documents in the titling process
  • Mistakes in the public records
  • Missing or undisclosed heirs
  • Forged mortgage releases
  • Use of fabricated power of attorney
  • Mistakes in the interpretation of legal documents
  • Claim by a previously unknown relative of a previous owner
  • Rights of way
  • Air and subsurface rights
  • Easements
  • Forgeries in the title chain


Top Title Insurance Companies in the U.S.

These are the top title insurance companies in the U.S., based on total revenues in the second quarter of 2011. Most of these firms belong to corporate families, namely Fidelity, First American, Old Republic and Stewart. The others are regional companies.

Rank
Name of Company
Family or Category
Total Revenues
 
 
 
First Quarter of 2011
 
 
 
 
1
First American Title Insurance Co.
First American
$655.75 million
2
Chicago Title Insurance Co.
Fidelity
$466.67 million
3
Old Republic National Title Insurance Co.
Old Republic
$308.81 million
4
Fidelity National Title Insurance Co.
Fidelity
$298.65 million
5
Stewart Title Guaranty Co.
Stewart
$258.53 million
6
Commonwealth Land Title Insurance Co.
Fidelity
$118.78 million
7
National Title Insurance Insurance of New York
regional company
$74.43 million
8
First Canadian Title Insurance Co.
First American
$49.56 million
9
Title Resources Guaranty Co.
regional company
$45.69 million
10
Westcor Land Title Insurance Co.
regional company
$35.74 million
11
Stewart Title Insurance Co. of New York
Stewart
$35.25 million
 
 
 
 
Source of Data: American Land Title Association (ALTA)

What are the two types of title insurance?

  • Owner's title insurance. This is the owner's policy. It protects the real estate buyer.
  • Lender's title insurance. This is the loan policy. It protects the mortgage lender.

Who pays for the title insurance?

It depends on local practice. In some areas of the country, the seller buys the owner's policy for the buyer. In other areas, the buyer pays for it. In certain places, the lender's policy and owner's policy are issued by the same title insurer simultaneously.

How is title insurance different from other types of insurance policies?

Other types of insurance policies focus on the coverage of risks. Title insurers focus on preventing risks, so they make thorough searches on the titles and fix the problems.

What is ALTA?

ALTA stands for American Land Title Association, currently headquartered in Washington, D.C. It is a national association founded in 1907 to represent title insurance agents, abstracters and title insurance underwriting companies and to promote high standards in land title search for the protection of buyers and mortgage firms.


Tampa4U Realty Prompting a Lot of Title Searches in Tampa, Florida



The real estate professionals of Tampa4U Realty have been activating a lot of title searches because of their success in helping buyers and sellers.

If you're looking for a certain Tampa real estate property, contact this team.

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