What We Support

Reform Title Insurance Now

The Problem

Unlike most other states, Texas’ title insurance system is rigidly anti-consumer. Texas sets fixed rates for title insurance and only allows for one type of coverage to be offered. This one-size, one-price approach prevents competition, driving up costs for consumers.

While title insurance prices vary widely from state to state, Texas consistently ranks among the highest titles insurance rates in the country. Texans pay hundreds of millions of dollars more for title insurance than do consumers in other states like New York, Massachusetts and New Jersey.

Because state government sets fixed rates for title insurance, title insurance companies are not allowed to offer a better price even if they wanted to. Bringing competition and flexibility to title insurance would allow companies to compete and offer a wider range of products and pricing for everyone.

Why It Matters

Texas’ title insurance system is antithetical to free enterprise.

For homeowners, especially first-time buyers, a lack of competition and fixed rates for title insurance mean they’re paying more than they should, potentially putting a home or better property out of reach. Consumers deserve a seat at the table.

Some businesses do not relocate or expand in Texas because title insurance rates on commercial property are also far more expensive than other states.

The only ones that benefit from today’s Texas title insurance system are title insurance companies.

The Solution

If you can shop around for insurance coverage for your automobiles, home or rental property, you should be able to shop around for title insurance, too.

It’s time to bring competition and flexibility to the title insurance system in Texas. Introducing competition to the title insurance market could mean hundreds of millions of dollars in savings for Texas homebuyers.