CFO Jeff Atwater, in the July 2011 edition of The Pulse reminds us that Reissue Rates may ONLY be given where the agent has, and retains in his file, proof of the prior policy.
Please keep in mind that the three year limit referenced in the article is only applicable to one category of Reissue Rates. The three year limit does not apply to policies on real property which is unimproved except for roads, bridges, drainage facilities, and utilities if the current owner’s title has been insured prior to the application for a new policy; or Mortgage policies issued on refinancing of property insured by an original owner’s policy which insured the title of the current mortgagor.
FLTA has an ongoing working group with some of the smartest people in Florida title insurance
looking at ways to simplify and clarify Florida's sometimes difficult to understand rate categories. (and they really hate it when I describe them that way!)
For more information about Reissue and other rate categories in Florida, please review F.A.C. 69O-186 or consult your underwriter.