insurance

I've bought title insurance when I bought a new house 10 years ago. Now, I notice that the title insurance company has quitted and closed business. Does it affect anything? Does it mean no more insurance coverage to my deed?

Ray, are you saying the title company closed, or are you saying the insurer that wrote the policy is no longer in business? It isn't clear from the information you gave, but here goes:

Usually, the title company does not underwrite the policy. You need to check the policy and see if the insurer is out of business--the title company and the insurer are not the same. If you find the insurer is no longer in business, you should contact the insurance department in the state you live in, and find out if these policies were assigned to another insurer. The state insurance department should be able to tell you whether or not your home is still covered. If the settlement company ( title company) went out of business, but the insurer is still in business, then you have nothing to worry about.

That's where I'd start. Good luck.

ps- the other person who wrote an answer is wrong. You don't pay on-going premiums for title insurance, it is a one-time payment at settlement of the property.

The title company collects the premium and here in Florida, take a split with the underwritter (the person who endorses your policy). As long as your underwritter is in business, you will be fine. Also, when and if you refi, you will pay title insurance again. Make sure you have Original Owner's http://answers.yahoo.com/question/accuse_write?qid=20080327141846AAjvxBb&kid=E7IpMlb9DjRUL_b8ZX.2&s=comm&date=2009-06-25+12%3A49%3A05&.crumb=

Policy. Although here in Florida there is a 3 year limit on rebates, some companies will take them and give the rebate because the legal description might be long, encumberants, ect. :) Good luck! http://answers.yahoo.com/question/accuse_write?qid=20080327141846AAjvxBb&kid=E7IpMlb9DjRUL_b8ZX.2&s=comm&date=2009-06-25+12%3A51%3A09&.crumb=

When they went out of business, those policies would've been bought by someone. You need to find out who the premium is sent to. Your mortgage holder will have that information.