Are Title Insurance Premium Rates set by law in Virginia?

Question by Michael: Are Title Insurance Premium Rates set by law in Virginia?
Is every company selling title insurance in Virginia legally bound to pass through rates as dictated by the state, or does rate premium depend upon particular insuer?

Best answer:

Answer by acermill
Title insurance rates are not mandated by law. Each insurer determines its own rate based upon risk. However, you will find that rates for title insurance are VERY close and competitive.

Chances are that you won’t find a $ 50 difference between assorted title insurance providers.

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