How Thoroughbred Can Offer Lower Premium Rates

Nothing sets Thoroughbred Title Services apart from our competition as much as our lower rates. And even though we’ve been offering them for years, we still get questions about how we’re able to do this. After all, every other title service in the state offers the same standard rates. So how are we able to offer something lower?

It’s a common misconception that Title Insurance Rate Service Association, Inc. (TIRSA) is a state organization or that membership is mandatory, when neither is the case; TIRSA is a voluntary organization.  From 2010 to 2022 our underwriter decided not to be a member of TIRSA and to file their own rate - and this worked exceptionally well.  More recently they have decided to join TIRSA but file a rate deviation of 10%, giving them the benefit of same forms and rules you are used to but the 10% premium discount our customers have become accustom to.

Thoroughbred Title Services is fully compliant with all laws and regulations, including RESPA, New York State Insurance Law, and New York State Bar Association ethics regulations. Additionally, our underwriter has an “A” rating by Demotech, and is extremely well-capitalized relative to its outstanding risk.

In other words, we are both legally and financially able to offer the services at the rates we do. And that means we can save you and your clients up to 26% on closing costs.