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The Real Deal Miami

Floridians pay most for title insurance in Southeast: report

March 22, 2012 01:30PM

Florida has the highest title insurance fees of any state in the Southeast region, according to a report by the Palm Beach Post. Florida buyers pay more than $700 million each year in title insurance premiums. “The buyer is sitting there getting shot like fish in a barrel,” said Robert Hunter, director of insurance at the Consumer Federation of America. “It’s a very antiquated system but hard to dislodge because you have so many rich people getting a lot of money out of it.” Title insurance rates in the state haven’t been changed since 1992, because of an apparent lack of information, regulators claim. [Palm Beach Post]