What is reissuing of title insurance and how can it save me money?

This is available if the home you are buying has title insurance on it that is less than 10 years old. The reissue rate is calculated at 70% of the normal premium. Assume you are are buying a home for $250,000 and the amount of the existing policy is $200,000. You would only have to pay the full title insurance on the $50,000 additional amount and the first $200,000 would be re-issued at 70% of the going rate. Again, the policy needs to be less than 10 years old to be able to do this.