Estimate your North Carolina title insurance premiums instantly.
$
$
Simultaneous Issue (Owner's + Lender's)
Owner's Policy Only
Lender's Policy Only
Base Owner's Premium:$0.00
Simultaneous Issue Fee:$0.00
Total Estimated Premium:$0.00
*Note: This calculation uses standard North Carolina Rate Bureau base rates. Final costs may vary depending on underwriter, endorsements, and attorney fees. This is an estimate for informational purposes only.
function calculateTitlePremium() {
var priceInput = document.getElementById('purchasePrice').value;
var loanInput = document.getElementById('loanAmount').value;
var type = document.getElementById('policyType').value;
var price = parseFloat(priceInput);
var loan = parseFloat(loanInput);
// Validation
if (isNaN(price)) price = 0;
if (isNaN(loan)) loan = 0;
if (price === 0 && loan === 0) {
alert("Please enter a Purchase Price or Loan Amount.");
return;
}
// Logic variables
var ownersPremium = 0;
var total = 0;
var simFee = 0;
// Determine Coverage Amount based on type
// For Simultaneous, the base rate is calculated on the Purchase Price (usually the higher value)
// For Owner's only: Purchase Price
// For Lender's only: Loan Amount
var coverageAmount = 0;
if (type === 'lenders') {
coverageAmount = loan;
} else {
// Usually coverage is purchase price, but if loan is higher, coverage increases to loan amount.
// Standard scenario: Coverage = Price.
coverageAmount = Math.max(price, loan);
}
// Calculate Base Premium (Cumulative Tiered Calculation for NC)
// Tiers (Approximate Standard NC Rates):
// 0 – 100k: 2.54 per 1k
// 100k – 500k: 1.98 per 1k
// 500k – 2m: 1.28 per 1k
// 2m – 7m: 0.99 per 1k
// 7m+: 0.94 per 1k
var remaining = coverageAmount;
var premium = 0;
// Tier 1: Up to 100,000
var tier1Limit = 100000;
var tier1Rate = 2.54 / 1000;
var tier2Limit = 500000;
var tier2Rate = 1.98 / 1000;
var tier3Limit = 2000000;
var tier3Rate = 1.28 / 1000;
var tier4Limit = 7000000;
var tier4Rate = 0.99 / 1000;
var tier5Rate = 0.94 / 1000;
if (remaining > 0) {
var chunk = Math.min(remaining, tier1Limit);
premium += chunk * tier1Rate;
remaining -= chunk;
}
if (remaining > 0) {
// Tier 2 calculation (amount between 100k and 500k)
// The limit of this tier is 400k (500k – 100k)
var range = tier2Limit – tier1Limit;
var chunk = Math.min(remaining, range);
premium += chunk * tier2Rate;
remaining -= chunk;
}
if (remaining > 0) {
// Tier 3 calculation (amount between 500k and 2m)
var range = tier3Limit – tier2Limit;
var chunk = Math.min(remaining, range);
premium += chunk * tier3Rate;
remaining -= chunk;
}
if (remaining > 0) {
// Tier 4 calculation (amount between 2m and 7m)
var range = tier4Limit – tier3Limit;
var chunk = Math.min(remaining, range);
premium += chunk * tier4Rate;
remaining -= chunk;
}
if (remaining > 0) {
// Tier 5 calculation (over 7m)
premium += remaining * tier5Rate;
}
// Round premium to nearest dollar (standard practice often implies rounding)
// We will keep 2 decimals for accuracy
premium = Math.round(premium * 100) / 100;
// Apply Logic based on Policy Type selection
if (type === 'simultaneous') {
// In NC, if purchasing both, you pay the full premium on the Owner's policy
// plus a simultaneous issue fee for the Lender's policy (often $26).
ownersPremium = premium;
simFee = 26.00;
total = ownersPremium + simFee;
// Display adjustments
document.getElementById('ownersPremiumVal').innerText = '$' + ownersPremium.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById('simIssueVal').innerText = '$' + simFee.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById('simIssueVal').parentElement.style.display = 'flex';
} else if (type === 'owners') {
ownersPremium = premium;
simFee = 0;
total = ownersPremium;
document.getElementById('ownersPremiumVal').innerText = '$' + ownersPremium.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById('simIssueVal').parentElement.style.display = 'none';
} else if (type === 'lenders') {
// If only Lender's, the "Base Premium" is effectively the Lender's premium
// We label it as Base Premium for simplicity in code, but UI will show result.
ownersPremium = premium;
simFee = 0;
total = ownersPremium;
// Change Label for clarity? We keep generic ID but logic is sound.
document.getElementById('ownersPremiumVal').innerText = '$' + ownersPremium.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById('simIssueVal').parentElement.style.display = 'none';
}
document.getElementById('totalPremiumVal').innerText = '$' + total.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById('resultsArea').style.display = 'block';
}
Understanding NC Title Insurance Rates
When purchasing a home in North Carolina, title insurance is a crucial step in protecting your property rights. Unlike other forms of insurance that protect against future events, title insurance protects against claims for past occurrences, such as unknown liens, forged signatures on prior deeds, or errors in public records.
Title insurance rates in North Carolina are regulated. The North Carolina Title Insurance Rating Bureau (NCTIRB) files rates with the Department of Insurance, which standardizes the premiums across most underwriters. This means that regardless of which title company you use, the base premium is likely to be the same, calculated based on the purchase price or loan amount.
How the Calculator Works
This NC Title Insurance Rate Calculator uses the tiered rate structure commonly adopted in North Carolina. The premium is cumulative, meaning different portions of the property value are charged at different rates.
Coverage Amount
Rate per $1,000
Up to $100,000
$2.54
$100,001 to $500,000
$1.98
$500,001 to $2,000,000
$1.28
$2,000,001 to $7,000,000
$0.99
Over $7,000,000
$0.94
Policy Types Explained
Owner's Policy: Protects the buyer's equity in the property. It lasts for as long as you or your heirs own the property. The premium is based on the purchase price.
Lender's Policy: Protects the bank or mortgage lender up to the amount of the loan. Most lenders require this. The premium is based on the loan amount.
Simultaneous Issue: In North Carolina, if you purchase an Owner's Policy and a Lender's Policy at the same closing, you qualify for a "Simultaneous Issue" rate. Typically, you pay the full premium for the Owner's Policy (based on the purchase price) and a nominal fee (often around $26.00) for the Lender's Policy, resulting in significant savings compared to buying them separately.
Who Pays for Title Insurance in NC?
In North Carolina, the buyer is traditionally responsible for paying the title insurance premiums. These are one-time costs paid at closing. While the rates are standard, the closing attorney will facilitate the procurement of the policy. It is worth noting that while the premium is fixed, other closing costs related to the title search and attorney fees can vary.
Why Do I Need It?
Even a thorough title search can miss hidden hazards. A title insurance policy covers legal fees and financial losses if a claim is made against your ownership. Common issues include unpaid taxes by previous owners, conflicting wills, or filing errors at the courthouse. Given the high value of real estate, the one-time premium is a small price for indefinite peace of mind.