Unlike most states, the government sets a fixed rate for title insurance, preventing competition for consumers’ business. By requiring the purchase of comprehensive, one-size-fits-all title insurance policies at a fixed rate, Texas increases costs for both consumers and businesses.
Economy
Heavy title insurance regulation means consumers pay more
Texas has become the nation's economic engine in large part because we have allowed competition to bring lower prices and better products in markets such as telecommunications, electricity and oil and gas. Title insurance should be no different.
February 23, 2017