Wong's Essentials Of Pediatric Nursing Practice Test

What is the primary purpose of a 'simultaneous issue' discount in Florida title insurance?

To reduce the cost of a standalone owner's policy To encourage the purchase of both an owner's and a lender's policy at the same time To lower the premium for commercial properties To provide a discount for repeat customers

Correct Answer:

To encourage the purchase of both an owner's and a lender's policy at the same time

Explanation:

A simultaneous issue discount is offered when both an owner's title policy and a lender's title policy are issued at the same time, significantly reducing the combined premium.

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