One of the many perks of buying title insurance in Texas is that you have a wide variety of choices. Texas has 575+ licensed title insurance agents located in 251 of 254 counties.
The cost of title insurance in
Texas has decreased by 15% in the last 25 years.
Rates are determined based on real world expense and revenue data in a transparent public hearing where consumers have a seat at the table.
Texans benefit from one of the safest markets
in the country with the highest safety ranking
of any comparable state.
The Current System
✔ Choice and competition with local title agencies in almost every county;
✔ Lower prices for title insurance than 25 years ago (15% less than the 1990s);
✔ Transparent prices easily accessible by the public without the extra fees found in other states;
✔ Safe real estate transactions with Texans enjoying one of the lowest “claims rates” in the country;
✔ Texas’ title insurance industry, composed of mostly small businesses, provides more than 13,000 high-quality jobs throughout the state.
Proposed File-and-Use Model
✘ Less competition – File-and-use would cause many title agencies to close, reducing access and local choice.
✘ Higher prices – Less competition would expose homebuyers to higher prices.
✘ More claims – Texans would face substantially higher claims as file and-use states can experience as much as 10 times the “claims rate” Texas has today.
✘ Job losses – Thousands of jobs across the state would either be permanently lost or shipped to other countries.
✘ Picking winners and losers – File-and-use would reward large corporations and well-heeled individuals at the expense of small businesses and average homebuyers.