If you buy your car insurance direct online, for the first time, home buyers can get their title insurance without a middleman can save about 35% along the way.
This past fall, EnTitle Insurance, the Cleveland, Ohio, title insurance company, launched Entitle Direct, an online service that lets home buyers in 31 states buy their title insurance direct by the end of the month. Claiming to be the first service of its kind, Timothy Dwyer, president and Chief Executive of Entitle Direct, said the service is already making waves in the title insurance industry.
Throughout its history, the title-insurance industry has been based on relationships between the real estate agent and title agent. The local real estate agent or lawyer typically refers customers to a title agent, who in turn gets a commission for sending business a title insurance company’s way.
The title insurance industry has been resistant to offering title insurance direct online because of fear the title agent will no longer bring business their way. But in the current environment, where people are looking to save any money they can on closing costs, offering title insurance direct is growing in demand.
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