Estimate your owner's and lender's title insurance policy premiums.
Purchase
Refinance
National Average (Standard)
Florida (Promulgated)
New York (Zone 1)
California
Texas (Regulated)
Illinois
Pennsylvania
Ohio
Estimated Title Insurance Premiums
Owner's Policy Premium:$0.00
Lender's Policy Premium:$0.00
Simultaneous Issue Savings:Included
Total Title Premium Estimate:$0.00
*Note: This calculator provides an estimate based on standard industry tiers and simulated state adjustments. Westcor Land Title Insurance Company rates may vary by specific agent, county, endorsements required, and applicable reissue rates. Always consult a licensed title agent for an exact quote.
Understanding Westcor Title Insurance Rates
Title insurance is a critical component of real estate transactions, safeguarding owners and lenders against financial loss due to defects in a property's title. Westcor Land Title Insurance Company is one of the nation's leading independent underwriters. Calculating the rate for a Westcor policy involves understanding the tiered structure of premiums, which are regulated at the state level.
How Title Insurance Premiums are Calculated
Unlike other forms of insurance that have monthly premiums, title insurance is a one-time fee paid at closing. The cost is generally based on the purchase price of the home (for the Owner's Policy) or the loan amount (for the Lender's Policy). Rates are typically structured in tiers per thousand dollars of liability.
A typical rate structure might look like this (varies by state):
First $100,000: Highest rate per thousand (e.g., $5.75).
$100,001 to $1,000,000: Reduced rate per thousand (e.g., $5.00).
Over $1,000,000: Further reduced rate per thousand.
Owner's vs. Lender's Policies
There are two primary types of title insurance policies:
Owner's Policy: Protects the buyer's equity in the property. The coverage amount is usually equal to the purchase price. In many states, this is optional but highly recommended.
Lender's Policy: Protects the mortgage lender's interest. This is almost always required if you are taking out a mortgage. The coverage amount tracks the loan balance.
The "Simultaneous Issue" Discount
When you purchase a home and take out a mortgage, you typically need both an Owner's and a Lender's policy. Buying them separately would be expensive. However, most rate schedules, including those used by Westcor agents, offer a "Simultaneous Issue" rate.
In a simultaneous issue scenario, you pay the full premium for the Owner's Policy (based on the sale price), and the Lender's Policy is issued for a nominal fee (often $25 to $100), provided the loan amount does not exceed the purchase price. Our calculator automatically applies this logic for Purchase transactions.
Refinance Rates
If you are refinancing an existing loan, you generally only need a Lender's Policy, as the original Owner's Policy remains in effect. Refinance rates (sometimes called "Reissue Rates") are often discounted because the title history was recently searched. This calculator estimates the standard lender premium for refinances.
Why Rates Vary by State
Title insurance is regulated differently across the US. In states like Florida, Texas, and New Mexico, rates are "promulgated," meaning the state government sets the exact rate all insurers must charge. In other states, underwriters like Westcor file their own rate manuals which must be approved by the state insurance department. Consequently, a $500,000 home in New York will have a significantly different title insurance cost than a $500,000 home in Ohio.
function toggleLoanInput() {
var type = document.getElementById('transactionType').value;
// In a refinance, the loan amount is the primary driver, but purchase price (value) is less relevant for the premium
// unless there's an owner's policy involved (rare for pure refi).
// For simplicity, we keep both visible but logic changes.
}
function calculateWestcorRates() {
// 1. Get Inputs
var transType = document.getElementById('transactionType').value;
var stateMultiplier = parseFloat(document.getElementById('stateSelect').value);
var priceInput = document.getElementById('purchasePrice').value;
var loanInput = document.getElementById('loanAmount').value;
// 2. Validate Inputs
if (priceInput === "" && transType === "purchase") {
alert("Please enter a Purchase Price.");
return;
}
if (loanInput === "" && transType === "refinance") {
alert("Please enter a Loan Amount for refinance.");
return;
}
var price = parseFloat(priceInput) || 0;
var loan = parseFloat(loanInput) || 0;
if (price < 0 || loan < 0) {
alert("Values cannot be negative.");
return;
}
// 3. Define Base Rate Calculation Function (Standard Tiered Model)
// This is a generic "National Average" algorithmic curve commonly used for estimation
function getBasePremium(amount) {
var premium = 0;
var remaining = amount;
if (remaining <= 0) return 0;
// Tier 1: 0 – 100k
var tier1Limit = 100000;
var tier1Rate = 5.75; // per thousand
var chunk = Math.min(remaining, tier1Limit);
premium += (chunk / 1000) * tier1Rate;
remaining -= chunk;
if (remaining <= 0) return premium;
// Tier 2: 100k – 1M
var tier2Limit = 900000; // 1m – 100k
var tier2Rate = 5.00; // per thousand
chunk = Math.min(remaining, tier2Limit);
premium += (chunk / 1000) * tier2Rate;
remaining -= chunk;
if (remaining <= 0) return premium;
// Tier 3: 1M – 5M
var tier3Limit = 4000000;
var tier3Rate = 2.50; // per thousand
chunk = Math.min(remaining, tier3Limit);
premium += (chunk / 1000) * tier3Rate;
remaining -= chunk;
if (remaining 0) {
// Simultaneous Issue Scenario
// Usually: Pay full Owner's. Lender's is flat fee (Simul Fee).
// If Loan > Price (uncommon), pay difference on the excess.
lenderPremium = simultaneousFee;
if (loan > price) {
// Calculate premium for loan amount and premium for price
// Pay difference on the tier
var rawLoanPrem = getBasePremium(loan);
var diff = (rawLoanPrem – rawOwner) * stateMultiplier;
if (diff > 0) {
lenderPremium += diff;
}
}
document.getElementById('simulRow').style.display = 'flex';
} else {
lenderPremium = 0;
document.getElementById('simulRow').style.display = 'none';
}
} else { // Refinance
// Refinance usually has no Owner's Policy premium (already owns it)
// Just Lender's Policy on Loan Amount
// Often at a discounted "Reissue" rate (e.g. 70% of base)
ownerPremium = 0;
var rawLender = getBasePremium(loan);
// Apply refinance discount factor (approx 0.7 for reissue) * stateMultiplier
lenderPremium = (rawLender * 0.7) * stateMultiplier;
document.getElementById('simulRow').style.display = 'none';
}
// 5. Rounding and Minimums
// Minimum policy cost varies, usually around $100-$200
if (ownerPremium > 0 && ownerPremium 0 && lenderPremium < 200 && transType === "refinance") lenderPremium = 200;
totalPremium = ownerPremium + lenderPremium;
// 6. Display Results
document.getElementById('ownerResult').innerText = "$" + ownerPremium.toLocaleString('en-US', {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById('lenderResult').innerText = "$" + lenderPremium.toLocaleString('en-US', {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById('totalResult').innerText = "$" + totalPremium.toLocaleString('en-US', {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById('resultsArea').style.display = 'block';
}