Who pays for title insurance in Florida?

What does the Florida contract say?

Paragraph 9(c) of the 2024 Florida Realtors/Florida Bar contracts offers three options. Under option (i), the seller designates the closing agent and pays for the owner's policy and charges. Under option (ii), the buyer does both. Option (iii), the Miami-Dade/Broward regional provision, has the buyer designate the closing agent and pay for the owner's policy, while the seller pays for specified title evidence items, capped at $200 for abstract continuation or title search if the blank is left empty.

Broward County is covered by that regional provision; Palm Beach County is not named in it, so Palm Beach contracts use option (i) or (ii). The Florida Bar notes that, as a general matter, the party paying is the party choosing the closing agent, but you should confirm it in each contract.[1][4]

How much does an owner's policy cost?

Florida law requires the state to adopt a rule specifying the premium title insurers charge. As of 2026, the promulgated risk rate for an original owner's policy is:

• $5.75 per $1,000 for the first $100,000 of coverage
• $5.00 per $1,000 from $100,000 to $1 million
• $2.50 per $1,000 over $1 million up to $5 million
• $2.25 per $1,000 over $5 million up to $10 million
• $2.00 per $1,000 over $10 million[2][3]

What does that mean in dollars?

On a $500,000 purchase, the owner's policy premium works out to $575 for the first $100,000 plus $2,000 for the next $400,000, or $2,575. A lender's policy issued at the same time on the same property is charged a minimum of $25 for coverage up to the owner's policy amount. Title search and closing services are separate charges, which the contract bundles into Owner's Policy and Charges.

The Florida Bar points out that the lender's policy provides no protection for the buyer, and buyers are almost always advised to get their own owner's policy. It also says title premiums should be disclosed separately from any legal fees.[1][2][4]