Researching Insurance Companies

I need advice on how to research a title insurance company's background. Where can I find the rating of the title insurance company's stability? In the case of a problem, who insures the title insurance company? What if they go bankrupt? Do title insurance companies have to register with the state?

I'm also wondering if, now that I have title insurance paid for by the seller, can I relax?

Answer: If you look at our "Ready to buy car insurance" Page http://www.insuranceguide101.com/car-insurance/ready-to-buy-car-insurance.aspx you will find links to rating companies. These rating companies will rate all insurance companies, not just car insurance companies.

As for your other questions, the answers are unique to a state and an insurance company. If an insurance company does become bankrupt, the government will usually get involved, but this is not to be considered 'insuring' the insurance company. Further, if your insurance company goes bankrupt, and you have made a claim, you will likely receive only a partial payment of the claim amount at best.

If you want the specifics for your state, check with your Department of Insurance.

Remember that you are now trying to manage a risk, which has a very small chance of occurring, especially if you have checked the stability of the insurance company upfront. If an insurance company is stable, and you feel comfortable with the product and the people, you can likely relax.

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