Simplified Calculation of Ohio Title Insurance Rates
Title policies in Ohio usually cost about 0.5% to 1.0% of the home’s sale price. It is usually included in the estimated closing costs provided by your lender.
It is not mandatory to purchase Owner’s Policy of Title Insurance; however, it is highly recommended to secure your property.
Owner's Policy (Standard Coverage)
| Housing Price | Per thousand | Add to Total | |
|---|---|---|---|
| $250,000 or below | $5.80 | $0.00 | |
| $250,000 - $500,000 | multiply by | $4.10 | $425.00 |
| $500,000 - $1,000,000 | multiply by | $3.20 | $875.00 |
| $1,000,000 - $5,000,000 | multiply by | $3.10 | $975.00 |
| $5,000,000 - $10,000,000 | multiply by | $2.90 | $1,975.00 |
| $10,000,000 and above | multiply by | $2.60 | $4,975.00 |
| *Minimum Premium of $225.00 |
Homeowner's Policy (Enhanced)
To calculate this policy, take the gross premium amount of what the Owner's policy would be and multiply that total by 15%.
Homeowner’s Policy of Title Insurance (Enhanced)
Title insurance is a policy that protects property owners and lenders from losses arising from any defects or issues with the property's title. Title hazards can include liens, encumbrances, and other issues that can negatively affect the property's value. To calculate this policy, take the gross premium amount of what the Owner's policy would be and multiply that total by 15%.
The Following is an Example:
Minimum @200.00
Owners for $250,000 purchase price is $1,312.50 x 115% = The Enhanced gross premium amount of $1,509.38.
Reissue rates of 70% within 10 years of purchase of original policy.
Actual Home Buyer’s costs could vary, depending on title endorsements required by the lender. Note that a survey is required at an additional charge for those purchasing an Enhanced policy of title insurance.
Get in Touch Today!
Discover our title insurance rates for your home title needs. Call us today at (937) 435-2580 in Dayton, OH, for a quote or for general questions.