Overview
Here are the basics (and notable strengths) of the top three title insurance companies in the U.S. Each offers several services and customer assistance features that are critical to their rise to industry leadership. The title insurance companies are:
- Fidelity National Financial
- First American Title Insurance Company
- Investors Title Company
Definitions
Throughout this brief article, some specialized terms are used. Here is a list of the definitions you may not know.
Title insurance – Coverage that provides financial and legal help in case a legal defect or claim risks invalidating some or all of a claim to homeownership and home equity. Title insurance claims may be triggered by taxes or repair bills left unpaid by a previous homeowner or clerical errors in related paperwork. A homeowner in possession of a home that frequently changed hands in the past is more likely to call upon title insurance services.
Underwriting – assessing risk profile of an asset or person and setting insurance price policies accordingly.
Settlement and closing – the final step in a home sale where the buyer acquires the title and full access to a property, with corresponding payment transferred to the seller.
Valuation and appraisal – Methods to determine value of a property. Depends on supply and demand factors, local job market and income profiles, crime rates, taxes, neighborhood and prices of similar properties.
Companies
Fidelity National Financial leads the industry in terms of number of title insurance policies that it underwrites. A prominent aspect of its operation is the home warranty business. In terms of customer services, the company’s Home Warranty division offers a variety of comprehensive assistance and qualified help that will get a homeowner qualified financial compensation and/or legal help in case a competing title claim comes to light.
First American Title Insurance Company specializes in settlement and closing services in addition to offering the usual title insurance policies. Valuation and related appraisal services are also within First American’s arsenal. Notably, this company has substantial expansion into the commercial real estate market and industrial banking. Banking-related wealth management and investment products make First American Title Insurance Company a versatile organization in broader sectors that focus on title insurance, real estate valuation and commercial financial services.
Investors Title Company offers the same title insurance and closing services that are prominent with Fidelity National Financial and First American Title Insurance Co. However, Investors Title Company focuses on the St. Louis area, giving its agents and management a close-up view of the market, risks and benefits unique to the St. Louis locale. Home equity and refinancing services are also available through Investors Title Company. This versatile product profile relating to real estate has helped Investors Title Company to grow into a prominent business leader.
