Refinance Title Insurance: What It Costs and How the Reissue Rate Saves You Money

If you are refinancing your mortgage in the Washington, DC metro area, you will likely need a new lender's title insurance policy. What many borrowers do not realize: if you bought the property within the last few years, you probably qualify for a reissue rate — a discount that can cut your title insurance costs by 20% to 40%.

Here is what refinance title insurance costs in our market, how the reissue rate works, and why it matters for your bottom line.

How Much Does Title Insurance Cost When Refinancing?

When you refinance, your lender will require a lender's title insurance policy — sometimes called a loan policy. This protects the lender's interest in the property up to the new loan amount. Unlike an owner's policy, it does not protect you directly.

The cost depends on three factors:

• Your loan amount — the premium is tied to the mortgage balance
• Your state — Virginia, Maryland, and DC each have their own filed rate schedules
• Whether you qualify for the reissue rate — this is where the savings kick in

For a typical refinance in the $400,000 to $600,000 range in our region, the lender's policy premium usually runs between $350 and $700 before any discounts. If you bought the property within the last five years and already have an owner's policy, that reissue rate can bring that number down significantly.

What Is the Reissue Rate?

The reissue rate is a discount on title insurance available when the property was previously insured. If you bought your home within the past 10 years and already have an owner's title insurance policy, the title company can issue a new lender's policy at a reduced rate — typically 20% to 40% off the standard premium.

The logic is simple: the title search and examination were already done. The title company already knows the property's history, so there is less risk and less work involved. That savings gets passed to you.

Not every refinance qualifies. The key requirement is that a policy was issued when you purchased the property — either an owner's policy, a prior lender's policy, or both. The newer the original policy, the deeper the discount usually goes, because the title chain is fresher in the company's records.

Do You Need Title Insurance When Refinancing?

Your lender requires it. That is non-negotiable. The lender's policy protects their investment — the mortgage they just wrote you — against any title defects that could jeopardize their collateral. Without it, most lenders will not fund the loan.

The owner's policy, by contrast, is optional at refinance. If you already bought one when you purchased the home, it remains in effect for as long as you own the property. It does not need to be renewed or reissued. However, some borrowers choose to update or "rerun" their owner's policy to reflect the current value, especially if the property has appreciated significantly.

Virginia, Maryland, and DC: State-by-State Reissue Rules

The reissue rate is available in all three jurisdictions, but the specifics vary:

• Virginia: The reissue rate applies if the original policy was issued within the past 10 years. Discounts typically run 20% to 30%, depending on how old the original policy is.
• Maryland: Maryland also offers a reissue rate for policies issued within 10 years. The discount is generally in the 20% to 40% range.
• Washington, DC: DC follows similar rules, with reissue discounts available for policies issued within the past 10 years. The exact discount varies by carrier and policy age.

In all three cases, you will need to provide the title company with information about your original policy — the policy number, the issuing company, and the date of issuance. If you do not have the paperwork, the title company can usually look it up.

How to Get the Best Rate on Your Refinance Title Insurance

1. Ask about the reissue rate upfront. Do not assume it will be applied automatically. Mention that you purchased the property within the last several years and already have title insurance.
2. Shop the full quote. Title insurance premiums are regulated, but settlement fees, search fees, and administrative costs vary between companies. Get an itemized quote that breaks down each charge.
3. Bundle if it makes sense. If you are adding an owner's policy or increasing coverage, ask whether a simultaneous issue discount applies.
4. Ask the right questions. Does the title company handle curative work in-house? How fast can they turn around the clears? For a refinance, timing matters — delays can cost you your rate lock.

What Happens If You Skip Owner's Title Insurance at Refinance?

Some borrowers wonder whether they need to buy a new owner's policy when they refinance. The short answer: your existing owner's policy from your original purchase still protects you. It does not expire and does not need to be "renewed" just because you are getting a new mortgage.

However, if your property value has increased substantially since you bought it, your original owner's policy coverage may be less than your current equity. In that case, upgrading to an enhanced owner's policy or increasing your coverage amount could be worth considering. An enhanced policy covers more risks — including certain fraud, building permit violations, and post-policy liens — and the cost increase is usually modest.

Get an Exact Quote

Title insurance costs for a refinance are not the same as they were when you bought your home. The reissue rate alone can save you hundreds, and comparing your options takes minutes.

You can get a free, itemized title quote that shows your refinance-specific premium, the reissue discount if you qualify, and all settlement fees — no obligation, no hard inquiry.

For a deeper look at what title insurance covers and why it matters, see our guide to title insurance costs in Virginia or browse our full library of title and settlement resources.