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NY Rates - Zone 1

(As filed by the Title Insurance Rate Service Association, Inc. as of August 1, 2015)

Purchase Transactions Up to $1 Million*

Amount of Insurance Owner's Policy Mortgage
First $35,000 or less $302.60 $299

 

 

 

MINIMUM PREMIUM (except simultaneously issued policies)

Each additional $1,000 (or fraction thereof), add

From  To    
35,001 50,000 6.73 6.61
50,001 100,000 4.20 4.10
100,001 500,000 3.38 3.31
500,001 1,000,000 3.03 2.96  

*Note Owner’s Policy rates up to and including $1,000,000 are based on Investors Title Insurance Company’s deviation filing approved by the NY Insurance Department effective September 1, 2014.

Regular Owner’s and Mortgage Rates

Amount of Insurance Owner's Policy Mortgage
First $35,000 or less $356 $299

MINIMUM PREMIUM (except simultaneously issued policies)

Each additional $1,000 (or fraction thereof), add

From To    
35,001 50,000 7.92 6.61
50,001 100,000 4.94 4.10
100,001 500,000 3.98 3.31
500,001 1,000,000 3.56 2.96
1,000,001 5,000,000 3.25 2.71
5,000,001 10,000,000 2.96 2.47  
10,000,001 15,000,000 2.76 2.31  
15,000,001 and up 2.48 2.07  

Simultaneous Issue of Owner’s and Loan Policies
When an owner’s policy and a loan policy are issued simultaneously covering identical property, the rate for the owner’s policy shall be the applicable owner’s rate. The rate on the amount of the loan policy that does not exceed the amount of the owner’s policy shall be calculated at thirty percent (30%) of the loan rate. The rate on the amount of the loan policy in excess of the amount of the owner’s policy shall be calculated at the full loan rate. 
  
Refinance and Subordinate Mortgage

(A) (1) Whenever a new loan policy (a “New Loan Policy”) is issued in the amount of $475,000 or less, the charge for the New Loan Policy shall be 50% of the applicable full loan rate up to the greater of:

(a) the full consideration paid for the deed, lease or assignment of lease vesting title in the mortgagor (the “Vesting Instrument”);

(i) computed from the amount of New York State Real Estate Transfer Tax stated on the Vesting Instrument, or (ii) otherwise shown on the Vesting Instrument, or (iii) shown in the public records, or

(b) the face amounts of all existing mortgages (including the consolidated amount of consolidated or modified mortgages) made by the owner of the fee or leasehold estate created by the Vesting Instrument (the “Existing Mortgage(s)”);

(2) provided that:

(a) the Vesting Instrument or the Existing Mortgage(s) on which the reduced rate is based was created within ten years before the date the order for the New Loan Policy was placed; and

(b) the new loan is to be made by all of the same or by some of the same persons as shown as the owners of the fee or leasehold estate in the Vesting Instrument, or by all of the same or some of the same persons as shown as the mortgagors in the Existing Mortgages; and

(c) The New Mortgage describes the same property or some of the same property as is set forth in the Vesting Instrument or the "Existing Mortgage(s)": means the New Mortgage describes all of the same property or some of the same property as shown in the Vesting Instrument or the Existing Mortgages.

(3) For any insurance that exceeds the greater of the amounts set forth in (A)(1)(a) or (A)(1)(b) above, the charge for such insurance shall be the full applicable loan rate.  

(B) (1) Whenever a new loan policy (a “New Loan Policy”) is issued in the amount of more than $475,000, the charge for the New Loan Policy shall be 70% of the applicable full loan rate up to the greater of:

(a) the full consideration paid for the deed, lease or assignment of lease vesting title in the mortgagor (the “Vesting Instrument”):

(i) computed from the amount of New York State Real Estate Transfer Tax stated on the Vesting Instrument, or (ii) otherwise shown on the Vesting
Instrument, or (iii) shown in the public records, or

(b) the face amounts of all existing mortgages (including the consolidated amount of consolidated or modified mortgages) made by the owner of the fee or leasehold estate created by the Vesting Instrument (the “Existing Mortgage(s)”);

(2) provided that:

(a) the Vesting Instrument or the Existing Mortgage(s) on which the reduced rate is based was created within ten years before the date the order for the New Loan Policy was placed; and

(b) the new loan is to be made by all of the same or by some of the same persons as shown as the owners of the fee or leasehold estate in the Vesting Instrument, or all of the same or some of the same persons as shown as the mortgagors in the Existing Mortgages; and

(c) New Loan describes all of the same property or some of the same property as shown in Vesting Instrument or the Existing Mortgages.

(3) For any insurance that exceeds the greater of the amounts set forth in (B)(1)(a) or (B)(1)(b) above, the charge for such insurance shall be the full applicable loan rate.

(C) “Existing mortgage” includes only mortgages that are open of record and have not been paid off prior to the transaction being insured.

(D) Additional discounts may be applicable pursuant to the following sections 14(A) and 14(B).   

 
Construction Loan Insurance
The construction mortgage rate is the Regular owner’s rate.
 
Endorsements
Contact our local agency for information regarding added coverage provided through endorsements and the costs.
 
For further information regarding these and all other applicable rates, please refer to the TIRSA Rate Manual approved by the Superintendent of Insurance of the State of New York, effective September 1, 1993 and containing approved changes through August 1, 2015 or call our local office.
 

NY Rates - Zone 2

(As filed by the Title Insurance Rate Service Association, Inc. as of August 1, 2015)

Purchase Transactions Up to $1 Million*

Amount of Insurance Owner's Policy Mortgage
First $35,000 or less $341.70 $344

 

 

 

MINIMUM PREMIUM (except simultaneously issued policies)

Each additional $1,000 (or fraction thereof), add

From  To    
35,001 50,000 5.67 5.55
50,001 100,000 4.62 4.54
100,001 500,000 3.71 3.64
500,001 1,000,000 3.38 3.31  

*Note Owner’s Policy rates up to and including $1,000,000 are based on Investors Title Insurance Company’s deviation filing approved by the NY Insurance Department effective September 1, 2014.

 

Regular Owner’s and Mortgage Rates

Amount of Insurance Owner's Policy Mortgage
First $35,000 or less $402 $344

MINIMUM PREMIUM (except simultaneously issued policies)

Each additional $1,000 (or fraction thereof), add

From To    
35,001 50,000 6.67 5.55
50,001 100,000 5.43 4.54
100,001 500,000 4.36 3.64
500,001 1,000,000 3.98 3.31
1,000,001 5,000,000 3.66 3.05
5,000,001 10,000,000 3.25 2.71  
10,000,001 15,000,000 3.07 2.55  
15,000,001 and up 2.76 2.31  

Simultaneous Issue of Owner’s and Loan Policies
When an owner’s policy and a loan policy are issued simultaneously covering identical property, the rate for the owner’s policy shall be the applicable owner’s rate. The rate on the amount of the loan policy that does not exceed the amount of the owner’s policy shall be calculated at thirty percent (30%) of the loan rate. The rate on the amount of the loan policy in excess of the amount of the owner's policy shall be calculated at the full loan rate.
  

Refinance and Subordinate Mortgage

(A) (1) Whenever a new loan policy (a “New Loan Policy”) is issued in the amount of $475,000 or less, the charge for the New Loan Policy shall be 50% of the applicable full loan rate up to the greater of:

           (a) the full consideration paid for the deed, lease or assignment of lease vesting title in the mortgagor (the “Vesting Instrument”);

                (i) computed from the amount of New York State Real Estate Transfer Tax stated on the Vesting Instrument, or (ii) otherwise shown on the Vesting
                 Instrument, or (iii) shown in the public records, or

            (b) the face amounts of all existing mortgages (including the consolidated amount of consolidated or modified mortgages) made by the owner of the fee or leasehold estate created by the Vesting Instrument (the “Existing Mortgage(s)”);

(2) provided that:

          (a) the Vesting Instrument or the Existing Mortgage(s) on which the reduced rate is based was created within ten years before the date the order for the New Loan Policy was placed; and

          (b) the new loan is to be made by all of the same or by some of the same persons as shown as the owners of the fee or leasehold estate in the Vesting Instrument, or by all of the same or some of the same persons as shown as the mortgagors in the Existing Mortgages; and

           (c) The New Mortgage describes the same property or some of the same property as is set forth in the Vesting Instrument or the "Existing Mortgage(s)": means the New Mortgage describes all of the same property or some of the same property as shown in the Vesting Instrument or the Existing Mortgages.

(3) For any insurance that exceeds the greater of the amounts set forth in (A)(1)(a) or (A)(1)(b) above, the charge for such insurance shall be the full applicable loan rate.

(B) (1) Whenever a new loan policy (a “New Loan Policy”) is issued in the amount of more than $475,000, the charge for the New Loan Policy shall be 70% of the applicable full loan rate up to the greater of:

        (a) the full consideration paid for the deed, lease or assignment of lease vesting title in the mortgagor (the “Vesting Instrument”):

             (i) computed from the amount of New York State Real Estate Transfer Tax stated on the Vesting Instrument, or (ii) otherwise shown on the Vesting
              Instrument, or (iii) shown in the public records, or

         (b) the face amounts of all existing mortgages (including the consolidated amount of consolidated or modified mortgages) made by the owner of the fee or leasehold estate created by the Vesting Instrument (the “Existing Mortgage(s)”);
  

(2) provided that:

(a) the Vesting Instrument or the Existing Mortgage(s) on which the reduced rate is based was created within ten years before the date the order for the New Loan Policy was placed; and
 
(b) the new loan is to be made by all of the same or by some of the same persons as shown as the owners of the fee or leasehold estate in the Vesting Instrument, or all of the same or some of the same persons as shown as the mortgagors in the Existing Mortgages; and
 
(c) New Loan describes all of the same property or some of the same property as shown in Vesting Instrument or the Existing Mortgages.

 

(3) For any insurance that exceeds the greater of the amounts set forth in (B)(1)(a) or B(1)(b) above, the charge for such insurance shall be the full applicable loan rate.

 

(C) “Existing mortgage” includes only mortgages that are open of record and have not been paid off prior to the transaction being insured.
 
(D) Additional discounts may be applicable pursuant to the following sections 14(A) and 14(B).
 
Construction Loan Insurance
The construction mortgage rate is the Regular owner’s rate.
 
Endorsements
Contact our local agency for information regarding added coverage provided through endorsements and the costs.

 

For further information regarding these and all other applicable rates, please refer to the TIRSA Rate Manual approved by the Superintendent of Insurance of the State of New York, effective September 1, 1993 and containing approved changes through August 1, 2015 or call our local office.