You Have A Choice:
Every day I take phone calls or receive emails from prospective clients who are shopping for a title company. And every day it always amazes me when they are genuinely surprised to learn that there are two different title insurance options, even though we are the second, third, or sometimes even fourth title company with whom they have conversed. My curiosity piqued, I searched online only to discover that some of the biggest players in the DMV don’t make any mention anywhere on their websites that there is a standard (sometimes referred to as basic or limited) title insurance option, but instead only quote the enhanced (sometimes referred to as the Eagle) policy. Interestingly enough, those same websites tout their communication, attention, and experience. Some have detailed online guides, offering great advice and suggestions covering every topic, EXCEPT conveniently not discussing the title insurance options. To top it off, they have calculators that only quote the enhanced policy, without making any mention that there is a less expensive option.
I understand the desire to only want to sell the more expensive title insurance option. After all, title insurance companies are paid based on a split on the title insurance, so obviously selling the more expensive option is more desirable. But rather than presenting both options and making a valid argument to the consumer about why the enhanced title policy might be beneficial, these companies pretend as if only the more expensive option is available, preying on the lack of familiarity with the closing process of the average consumer. This is exactly why the title industry suffers from such a bad reputation.
To be fair, this is not true of all title companies. Some of our major competitors do at least list the policy information on their website and some even go so far as to quote both options. Federal Title long ago took the approach that transparency and education allow for smoother closings and better experiences. This approach is reflected in our online reviews. Likewise, the companies that prefer to cloud title insurance, well, that approach is also reflected in their online reviews, which come as a result of angry consumers discovering after closing that they were not given an option.
What Can You Do?:
If you are a prospective purchaser or an agent for a purchaser, I invite you to browse our website. On our Quick Quote page, you will be able to obtain a quote in seconds, and that quote will give you the pricing for both the standard and enhanced title insurance policies, with links comparing the coverage. Nothing hidden, no tricks, no withheld information. Rather than using a title company that claims to be consumer friendly, choose a title company that is consumer friendly.