Tennessee Title Insurance Rate Calculator
Estimate your Owner's and Lender's title insurance premiums based on TN risk rates.
Purchase (with Mortgage)
Purchase (All Cash)
Refinance
Standard TN Rates
Davidson
Shelby
Knox
Hamilton
Williamson
Owner's Policy Premium:
$0.00
Lender's Policy Premium:
$0.00
Simultaneous Issue Fee:
$0.00
Total Title Insurance:
$0.00
Understanding Tennessee Title Insurance Rates
Title insurance in Tennessee is a crucial safeguard for real estate transactions, protecting both property owners and lenders from financial loss due to defects in a property's title. Unlike other forms of insurance that protect against future events, title insurance protects against claims arising from past events, such as liens, encumbrances, or forgery.
How Premiums are Calculated in TN
Tennessee title insurance rates are generally "risk-based" and often follow a tiered structure based on the purchase price of the home or the loan amount. While specific underwriters (like First American, Old Republic, or Stewart) may file slightly different rates, the structure is typically consistent across the state.
A common rate structure used for estimation in Tennessee is:
- First $100,000: Approximately $5.75 per $1,000
- $100,001 to $1,000,000: Approximately $4.50 per $1,000
- $1,000,001 to $5,000,000: Approximately $3.00 per $1,000
- $5,000,001 to $10,000,000: Approximately $2.25 per $1,000
- Over $10,000,000: Approximately $2.00 per $1,000
Owner's vs. Lender's Policy
There are two primary types of title insurance policies:
- Owner's Policy: Protects the buyer's equity in the property. The premium is based on the full purchase price.
- Lender's Policy: Protects the bank or mortgage lender. The premium is based on the loan amount.
Simultaneous Issue Discount
If you are buying a home with a mortgage, you will typically need both an Owner's Policy and a Lender's Policy. In Tennessee, if these are purchased together (a "Simultaneous Issue"), the Lender's Policy is often heavily discounted. Usually, you pay the full premium for the Owner's Policy, and the Lender's Policy is charged a nominal fee (e.g., $100) plus any premium difference if the loan amount exceeds the purchase price.
Who Pays for Title Insurance in Tennessee?
The party responsible for paying title insurance premiums varies by region in Tennessee:
- West Tennessee (e.g., Memphis): It is customary for the Seller to pay for the Owner's Policy.
- Middle Tennessee (e.g., Nashville): It is customary for the Buyer to pay for the Owner's Policy.
- East Tennessee (e.g., Knoxville): It is customary for the Buyer to pay for the Owner's Policy.
However, these are just customs and can be negotiated within the purchase agreement.