Why Title Insurance is So Expensive | Houzeo Forensics

Title insurance is at least 30 times more expensive than any other type of insurance. Why is title insurance so expensive? Do you even need title insurance? Is it a scam? And how do we make it more affordable?

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- Intro 0:00
- What is Title Insurance? 1:42
- Is Title Insurance Expensive? 6:35
- Why Is Title Insurance So Expensive? 8:19
- How do we Make Title Insurance More Affordable? 13:34

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[rudolfoization]

take your title insurance and read thru "Exceptions" ...anything not in public records is not covered...also. lets say you sell a house, you pay for title insurance for the buyer ...later on buyer has a problem ...title company will pay up...AND go after YOU to recover the costs...great business

[ekdahl]

There are definitely problems with title insurance just as there are with just about any industry. Having the government run anything is a bad idea! I am a ranch broker in Texas and, although I have not always been satisfied with the title insurance companies we have worked with, I have seen some real problems with properties that wouldn't be resolved by a governmental solution. Also, the fees are really not that expensive as this video would suggest. I would rather my clients and customers be safe than sorry!

[peterpersaud]

There are sweeping companies now who for a fee will run a search on and defects and then have them cleared up. This fee is less than $500

[robertleclair]

I have always felt title insurance is a huge scam. And as homes are sold again and again the cycle repeats itself on house they may have recently been researched for title defects. Even if one chooses the same title company that just researched the same house a few years back. What a scam.

[peterpersaud]

But if and when you run title would those defects now show up??

[madmark]

Title insurance is a scam. Why would you pay $1500 when the other option is taking a 1 in 25, 000 chance of paying $5, 000? (My numbers from my recent purchase.) Worst case scenario you have to hire a lawyer to sort out the situation, but that's probably not going to happen as you can see from the numbers in this video.