New Consumer Tool in California, Title Wizard,

So California has introduces a new tool, called Title Wizard which allows consumers to compare title insurance prices so they can make their own choice. Diane has already written about this and while I agree with her that this information has been available for a while to anyone with a computer and an Internet connection. I have to take issue with her saying it is lame. It may be late to the game and there may be issues that need addressing to force a real change I still like that California is trying to educate consumers about title insurance. I still believe that too few consumers never hear about title insurance until they are actually signing the closing documents. By then it is too late to shop around and they are generally stuck paying too much for their title insurance and closing costs. If Title Wizard is able to educate more consumers and compel them to actually shop for title insurance it will go a long way towards cleaning up the industry and making it more consumer friendly. If those people tell others and the word spreads it could really force a change.

I am generally for the free market and against government interference but if government is going to step in this is a good way to do it. They are not actually piling on useless regulations or meaningless platitudes but simply allowing consumers to compare prices on their own and choose their own title insurance provider. Obviously there are number of private companies doing the same thing but they do not have the PR power of California state government. Once people realize they can compare and shop they will actually start going to Google and other search engines to find providers. It may not be a huge step but IMO it is another small step that can help propel the industry into cleaning itself up and providing consumer focused service.