Real Estate Insurance

Why Is Real Estate Agent Insurance So Important?

Selling and appraising properties isn’t just complex, it can also expose your real estate business to serious risks. That’s why you need real estate insurance that can keep you protected from the challenges that come. As a small business owner, finding an insurance company that knows your unique needs can make the biggest difference. Our business insurance was created especially for real estate professionals to give them the peace of mind they need as they work.

Who Needs Realtor Insurance?

This coverage is important to have if you or your employees work as:

Real estate agents
Real estate brokers
Real estate appraisers
Escrow agents

Real Estate Agent Insurance vs. Broker Insurance

Many people don’t realize the differences between real estate agents and brokers. And even though you do similar jobs, you often need different coverages to protect you while you work.

Real Estate Agents

Real estate agents help their clients purchase, rent or sell by showing properties. They stay on top of market conditions so they can provide guidance and assistance through the process of buying, selling or leasing.

It’s a good idea for real estate agents to make sure they have basic coverages that will help cover you if a client claims you haven’t done your job correctly and sues you.

Real Estate Brokers

A real estate broker is still considered a real estate agent, but has received a state real estate broker license, allowing them to work independently, start their own brokerage and hire other real estate agents to work for them.

Brokers need more coverage because they are legally liable for their agents. Getting property insurance and general liability insurance is a good idea.

Is a BOP for Real Estate Professionals the Best Policy?

Small business owners often start with our Business Owner’s Policy (BOP). It includes three essential coverages, helping you save on insurance costs while protecting your real estate business. Having a BOP can help protect your business with:

Find out more about other real estate and related professions we insure:

Covering Your Real Estate Property

As a real estate professional, you try to make sure everything goes as planned. But unfortunately, you can only prevent so much. From property damages to client accidents, you need to protect your real estate business with an insurance company that has your back. Get real estate insurance coverage you know you can count on.

Winter storms caused $2.1 billion in insured losses in 2019.¹

Frozen Pipes

“A winter snowstorm caused the pipes in our office to freeze and burst. We had to replace all of them and put in the new plastic ones that the town now requires.”

Ordinance or law coverage can help pay for the additional costs to repair or replace damaged or destroyed property in order to adhere to the local laws and ordinances.

Electricity Outage

“One of the transformers on our street blew during a storm. This resulted in no power at our office for a week, which caused us to lose access to our network to upload listings.”

Business income for off-premises utility services provides coverage if your real estate business needs to suspend operations due to an interruption of power, communication or water services.

Taking Care of Your Real Estate Team

You need a team you can rely on – and keep safe. Your real estate agents help keep your real estate business running smoothly. That’s why you want realtor insurance that knows your needs and can keep your team covered while they work.

On average, there are 6 million car accidents in the U.S. every year.²

Agent Injury

“One of my agents was showing a house when the railing on the client’s deck came loose. She fell down the stairs and ended up with a broken ankle.”

Workers’ compensation insurance can help real estate professionals as they show properties and meet with clients, helping pay for their recovery if they’re injured or get sick while working.

Car Accident

“My assistant was dropping off paperwork at a client’s house in our company van. As she went to leave, she backed into a parked car on the side of their driveway that she didn’t see.”

Commercial auto coverage can help pay to cover the costs of repair if an employee accidentally hits a client’s vehicle with their own.

Covering Your Real Estate Operations

Disaster strikes when you least expect it. And nowadays, there are more and more ways for major issues to arise. No matter what you’re selling – from commercial real estate to residential property – you need an insurance company that knows the risks you face so they can protect you from them. As you manage clients, handle contracts and send electronic files, we can help make sure you’re covered.

43% of online attacks are aimed at small businesses.³

Client Lawsuit

“I received a certified letter informing me that my real estate business was being sued. The client claimed my real estate agent didn’t disclose important issues with the house she bought.”

Professional liability, also known as errors and omissions insurance for real estate professionals, can help pay for lawsuits claiming you failed to provide specific services for clients.

System Hacking

“We send almost everything electronically now. But when we opened an email from one of our lenders that was encrypted, we got hacked, totally shutting us down for a few days while we notified everyone their personal information was compromised.”

Data breach helps cover the cost to notify affected individuals and provide credit monitoring if personally identifiable customer information is lost or stolen.

Get Your Real Estate Agent Insurance Quote

We’ve built real estate business insurance to help protect small business owners like you. Work with an insurance company who knows your industry and will help you make the most of this market.

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For Larger Firms

Larger real estate firms typically require specialized insurance coverage.

Learn About Business Needs

¹ Insurance Information Institute, “Facts & Statistics Winter Storms”

² Car Accident Statistics in the United States, “Driver Knowledge”

³ CNBC, “Cyberattacks now cost companies $200,000 on average, putting many out of business”

Real Estate Insurance