Who Pays for Title Insurance in Florida?

The party responsible for paying title insurance can vary in Florida, depending on local norms for the county your transaction is happening in.

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For example, it's typical in Miami-Dade and Broward counties for the buyer to pay for his or her title insurance policy. However, in other counties in Florida it's more common for the seller to pay for title insurance and pick the title company and closing agent.

In fact, the standard Realtor purchase contract which we'll go over in this tutorial has three different choices for who pays for title insurance.

Remember that title insurance in Florida is based on a promulgated rate, set by the State of Florida as follows per thousand:

From $0 to $100,000 of liability written $5.75
From $100,000 to $1 million, add $5.00
Over $1 million and up to $5 million, add $2.50
Over $5 million and up to $10 million, add $2.25
Over $10 million, add $2.00

Learn more about closing costs for buyers in Florida: https://www.hauseit.com/closing-costs-for-buyer-in-florida/

As you can imagine, even though closing costs in Florida are much lower than in NY and NYC in particular, title insurance is still one of the, if not usually the biggest, closing cost for buyers at least. Therefore, it's important to understand who will be paying this closing cost prior to signing any contract.

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Hauseit Group LLC, Licensed Real Estate Broker
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