If you are looking for a reliable and innovative title insurance company in Colorado, you may want to consider American Digital Title Insurance Company (ADTIC).
ADTIC is a subsidiary of Munich Re, one of the world’s leading reinsurance companies, and offers a unique automated underwriting model that leverages artificial intelligence and big data to provide fast and accurate title insurance policies.
ADTIC was established in 2019 and is currently licensed in 46 states and growing.
In this article, we will introduce you to the history, products, services, and benefits of ADTIC, as well as how to contact them and make a claim with them.
American Digital Title Insurance Company, Colorado contact
|+1 720-630-7751 (general inquiries), +1 888-883-7475 (claims and customer service)
|4949 South Syracuse Street, Suite 540, Denver, CO, 80237
|Customer Service Contact
|Automated underwriting model for title insurance policies, admitted insurer in all 50 states and the District of Columbia, treaty reinsurance provided by Munich Reinsurance America, Inc.
|email@example.com (general inquiries), firstname.lastname@example.org (claims-related questions)
Who pays for owner’s title insurance in Colorado?
there is no fixed rule about who pays for owner’s title insurance in Colorado, but it is usually the seller who pays for it.
Owner’s title insurance is a one-time fee that protects the buyer from any defects or liens on the property title.
The cost of owner’s title insurance depends on the purchase price of the property, but it is typically around 0.2% of the sale price.
The buyer, on the other hand, usually pays for lender’s title insurance, which protects the lender from any losses due to title issues.
The cost of lender’s title insurance is much lower than owner’s title insurance.
However, these are not strict rules, and the parties can negotiate who pays for what in the closing costs.
Sometimes, the buyer may ask the seller to pay for both types of title insurance, or vice versa.
It is advisable to consult a real estate agent or an attorney to understand your options and obligations when buying or selling a property in Colorado.
American Alternative Insurance Corporation parent company
The parent company of American Alternative Insurance Corporation (AAIC) is Munich Reinsurance America, Inc., which is a subsidiary of Munich Reinsurance Company (Munich Re), one of the world’s leading reinsurance companies.
AAIC is an insurance company that provides property, disability, fire, burglary, and casualty insurance products in the United States.
It was established in 1923 and became part of Munich Re in 1996.
AAIC operates as an admitted insurer in all 50 states and the District of Columbia.
Is title insurance mandatory in Colorado?
Why do I need Title Insurance?
Title insurance is a form of indemnity insurance that protects lenders and homebuyers from financial loss sustained from defects in a title to a property.
The most common type of title insurance is lender’s title insurance, which the borrower purchases to protect the lender.
The other type is owner’s title insurance, which is often paid for by the seller to protect the buyer’s equity in the property.
Title insurance protects both lenders and homebuyers against loss or damage occurring from liens, encumbrances, or defects in a property’s title or actual ownership.
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