If your vehicle it considered a total loss, your Total Settlement Value will include Taxes, Transfer Fees, Deductible and your Loan/Lien. *This is with State Farm Insurance, I am not sure about other companies.
Ticor Title is a company that deals with title insurance and escrow services. They also offer home warranty contracts, property and casualty insurance and Bancserv Notary services.
Let's start with defining title COMPANY vs title AGENCY. A title company is the actual company underwriting and insuring the title policy. Title companies then have agents who sell and negotiate title products in their behalf (think of it as equal to Allstate (the company) having the local Allstate agent) At this point in time, most title companies are also in the business of selling title products directly and in competition with their agents. However, there are more direct title agencies to obtain title insurance services from at a local level than title companies. So, the answer is yes, title companies can also be SELLING title services and products in addition to underwriting and insuring title insurance policies.
When purchasing or refinancing a home, you will have settlement conducted by a Title Company, the title company is also the licensed title insurance provider. Up to two policies will be issued. Maryland Specific: If you are purchasing a property and taking out a loan, the lender will require a Lenders Title Insurance Policy. And you will have the option of purchasing an owners title insurance policy for your protection. If you are refinancing your current home then the lender will only require the lender's policy. In both instances the title insurance policies will be issued at the time of closing.
A title commitment is just what it is. It's a commitment. Meaning as long as all of the conditions are met on that commitment, after closing, title insurance will be issued. A commitment is not considered insurance. Your title is not insured until after closing when the new deed and/or mortgage has been recorded. At that point, the title company issues insurance. If you are buying a new home and depending on where you are, you should receive your title policy about 60 days after closing along with either the original or a copy of your deed.
Title Insurance in Texas is highly regulated. To find the Rules and Regulations, you can access the Basic Manual of Texas Title Insurance at www.tlta.com/publications/basicmanual - You may also find more information at the Texas Department of Insurance website at www.tdi.state.tx.us (Select "Title" from the menu) It is much easier to become a "fee office" than a "title agent". A fee office is an attorney that has a fee agreement with an existing title company. For more information, contact the major title insurance underwriters in Texas. They can be found at the Texas Land Title Association (TLTA) website under Membership Directory-Underwriters.
Vehicle liability insurance is insurance that only covers the other car. That means that if you get in a wreck, you are liable for what happens to your car. It also means that that your insurance company will pay for the damages to the other person's car if the accident is found to be your fault, but if it is the other person's fault, then their insurance will pay for the damages to your car.
Vehicle liability insurance is insurance that only covers the other car. That means that if you get in a wreck, you are liable for what happens to your car. It also means that that your insurance company will pay for the damages to the other person's car if the accident is found to be your fault, but if it is the other person's fault, then their insurance will pay for the damages to your car.
It's not actually a refusal. It is whatever is stipulated in your policy. Insurance companies are very careful about wording in documents. Although you can appeal to the company and also through the courts. But fighting an insurance company is usually an uphill battle.
It depends on why you don't have the title. If you don't have it because it is financed then yes. The insurance company will do the work for you of getting the title released from the bank. If you don't have it because you don't own the vehicle then no the company will not pay you. Legally they cannot pay you for a vehicle that you don't own just like you cannot insurance a vehicle you don't own. They also cannot pay the true owner because that person does not have a legal contract of insurance with the company. No one gets paid.
Every state is different. Where I live, if you are the responsible party in the wreck then your insurance has to repair the vehicle that you hit. You will be responsible for paying your deductible to have your vehicle fixed. Also the driver without insurance will be ticketed by the authorities if they are present.
You should still have the title to the car. If you take the title to the Dept of Motor Vehicles they will have record of your car's registration and will issue you new papers. The insurance company will also have record of your policy and can issue you a new insurance card.
There are many steps in starting a title company regardless of the locale. The very first step is registering your name, getting authority to do business in the state by the secretary of state or similar agency that oversees the development of business entities. Then you need to get licensed by the agency in your state that regulates insurance companies/agencies so that you can sell title insurance in your state. Once you are licensed to conduct business in the state and also to sell title insurance in the state, you then go about starting your business.