Charleston
Greenville
Richland
Horry
Spartanburg
Lexington
York
Berkeley
Anderson
Beaufort
Other
Owner's Policy Premium:$0.00
Lender's Policy Premium:$0.00
Total Title Insurance:$0.00
Note: A "Simultaneous Issue" discount has been applied to the Lender's Policy.
Understanding South Carolina Title Insurance Rates
Title insurance in South Carolina is a critical component of closing on a real estate transaction. Unlike other forms of insurance that protect against future events, title insurance protects against past defects in the property's legal history, such as unpaid liens, forged transfers, or undisclosed heirs. This calculator provides an estimate of the premiums based on common rate schedules filed with the South Carolina Department of Insurance.
How Premiums Are Calculated in SC
South Carolina is not a "promulgated rate" state like Texas or Florida, meaning the state government does not set a single, mandatory rate for every insurer. However, most major title insurance underwriters (such as First American, Fidelity National, Stewart, and Old Republic) file rate manuals that are very similar. The premiums are generally calculated based on a tiered system related to the liability amount (the purchase price or loan amount).
Typical Rate Tiers (Estimates):
Up to $100,000: Approximately $2.50 to $4.00 per thousand.
$100,001 to $500,000: Approximately $2.00 to $3.00 per thousand.
$500,001 to $1,000,000: Approximately $1.75 to $2.25 per thousand.
Over $1,000,000: Rates decrease further per thousand dollars of liability.
Owner's Policy vs. Lender's Policy
There are two primary types of title insurance policies involved in a real estate transaction:
Owner's Policy: This protects the buyer's equity in the property. The coverage amount is usually equal to the purchase price. While not required by law, it is highly recommended and customary for the buyer to obtain this protection. In many SC counties, it is customary for the buyer to pay this premium, though it can be negotiated.
Lender's Policy: If you are taking out a mortgage, your bank will require a Lender's Policy. This protects the bank's investment (the loan amount). This policy decreases in value as you pay off the mortgage.
Simultaneous Issue Discount
A significant cost-saving mechanism in South Carolina is the "Simultaneous Issue." If you purchase an Owner's Policy and a Lender's Policy at the same time (which is typical in a home purchase), the premium for the Lender's Policy is often reduced to a nominal fee (commonly around $100 to $200), provided the loan amount does not exceed the owner's coverage. This calculator automatically applies this logic when calculating premiums for a purchase transaction involving a loan.
Refinance Transactions
In a refinance transaction, you already own the home, so you typically do not need a new Owner's Policy. However, the new lender will require a new Lender's Policy to cover the new loan. Refinance rates are often calculated based on the standard rate schedule for the loan amount, although some insurers offer "Reissue Rates" if a prior policy can be produced, offering a discount on the premium.
Additional Closing Costs
Please note that the premiums calculated above are for the insurance policy itself. Closing attorneys in South Carolina may charge additional fees for the title search, title examination, and settlement services (binder fees). These are separate from the risk premium paid to the underwriter.
function toggleInputs() {
var type = document.getElementById('scTransactionType').value;
var priceGroup = document.getElementById('purchasePriceGroup');
if (type === 'refinance') {
priceGroup.style.display = 'none';
document.getElementById('scPurchasePrice').value = ";
} else {
priceGroup.style.display = 'block';
}
}
function calculateSCTitleRates() {
// Inputs
var transType = document.getElementById('scTransactionType').value;
var purchasePrice = parseFloat(document.getElementById('scPurchasePrice').value);
var loanAmount = parseFloat(document.getElementById('scLoanAmount').value);
// Validation
if (isNaN(purchasePrice)) purchasePrice = 0;
if (isNaN(loanAmount)) loanAmount = 0;
// SC Standard Rate Schedule (Representative of major underwriters)
// Note: Actual rates vary by underwriter. This is a standard estimation model.
// Tier 1: Up to 100k -> $2.50 per thousand
// Tier 2: 100k – 500k -> $2.00 per thousand
// Tier 3: 500k – 1M -> $1.75 per thousand
// Tier 4: 1M – 3M -> $1.50 per thousand
// Tier 5: Over 3M -> $1.25 per thousand
// Base Premium Calculation Function
function getBasePremium(liability) {
var premium = 0;
var remaining = liability;
// Tier 1: First 100,000
if (remaining > 0) {
var tierAmount = Math.min(remaining, 100000);
premium += (tierAmount / 1000) * 2.50;
remaining -= tierAmount;
}
// Tier 2: Next 400,000 (up to 500k)
if (remaining > 0) {
var tierAmount = Math.min(remaining, 400000);
premium += (tierAmount / 1000) * 2.00;
remaining -= tierAmount;
}
// Tier 3: Next 500,000 (up to 1M)
if (remaining > 0) {
var tierAmount = Math.min(remaining, 500000);
premium += (tierAmount / 1000) * 1.75;
remaining -= tierAmount;
}
// Tier 4: Next 2,000,000 (up to 3M)
if (remaining > 0) {
var tierAmount = Math.min(remaining, 2000000);
premium += (tierAmount / 1000) * 1.50;
remaining -= tierAmount;
}
// Tier 5: Over 3M
if (remaining > 0) {
premium += (remaining / 1000) * 1.25;
}
// Minimum premium check (SC often has min premiums around $150-$200)
if (liability > 0 && premium 0) {
ownersPremium = getBasePremium(purchasePrice);
}
// Calculate Lender's Policy
if (loanAmount > 0) {
if (loanAmount Price (rare), pay full owner rate + difference
// Simplified: Simultaneous fee + premium on the difference
var baseOwners = getBasePremium(purchasePrice);
var fullLoanPrem = getBasePremium(loanAmount);
// The incremental cost is the difference plus the sim fee
lendersPremium = 100 + (fullLoanPrem – baseOwners);
if (lendersPremium 0) {
lendersPremium = getBasePremium(loanAmount);
}
}
totalPremium = ownersPremium + lendersPremium;
// Display Results
var formatter = new Intl.NumberFormat('en-US', {
style: 'currency',
currency: 'USD',
});
document.getElementById('ownersPremiumResult').innerText = formatter.format(ownersPremium);
document.getElementById('lendersPremiumResult').innerText = formatter.format(lendersPremium);
document.getElementById('totalPremiumResult').innerText = formatter.format(totalPremium);
document.getElementById('scResults').style.display = 'block';
if (isSimultaneous && transType === 'purchase' && loanAmount > 0) {
document.getElementById('simultaneousMsg').style.display = 'block';
} else {
document.getElementById('simultaneousMsg').style.display = 'none';
}
}