Want to save your customers Money? Don’t forget about the re-issue credit!
Reissue Rate Credit – If the seller can produce to the buyer, a title policy that was issued in the past three years, then the title company can provide a reissue rate that can be as much as a 40% discount on the new title insurance policy. Always ask the seller if they have a copy of their original title insurance policy if the property was purchased by them in the previous three years. You can receive this reissue rate credit for your new owners’ title policy. The actual amount of the credit is the same amount regardless of whether the policy is one, two or three years old. If the title policy is older than three years, then you will not be able to receive the reissue rate credit. In the case of a refinance, you can get a reissue credit if you can provide a copy of your title policy regardless of when you purchased the property. It is imperative that you store your title policy in a safe and secure place such as a safe.
Ask your sales representative for more information!