In real estate transactions, a reissue rate is a reduced charge for a title insurance policy when a previous policy on the same property was issued within a specified period of time. It reflects the lower risk associated with insuring a title that was recently examined.
Because much of the prior title work can be relied upon, the reissue rate is less than the original premium. This reduced rate is commonly available in refinancing or resale transactions occurring within the insurer’s stated time limits.
