Real Estate Agent Insurance & Realtor Insurance

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Whether you’re a real estate agent or investor , the real estate industry inherently deals in a lot of money, and this can be a good thing and a bad thing for the people working in it. Real estate agent insurance is crucial to many professionals in the industry because of the protection that it provides from potential risks that this field of occupation is involving.

In this guide, we’re going to take a look at the inner workings of realtor insurance, including the kind of real estate agent insurance policies that are most useful and popular to opt for. We’ll also explore realtor insurance cost based on the company you’re working with as well as the insurance requirements for real estate agents.

Real Estate Agent Insurance Requirements

There are several states that require E&O insurance for real estate agents to be able to do business. In many cases, insurance companies only offer E&O insurance for real estate agents in these states since they know that there’s a guaranteed demand for it in those places. Here are the states:

  • Alaska

  • Colorado

  • Iowa

  • Idaho

  • Kentucky

  • Louisiana

  • Mississippi

  • Montana

  • Nebraska

  • New Mexico

  • North Dakota

  • Rhode Island

  • South Dakota

  • Tennessee

Liability Insurance for Real Estate Agents

Real estate broker E&O insurance is also known as professional liability insurance for real estate agents and realtors. There’s no functional difference between a real estate E&O insurance policy and a real estate professional liability insurance policy.

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Real Estate Agent Insurance Cost

The cost of E&O insurance for realtors and real estate agents depends on the company that you’re working with and the kind of coverage that the policy provides. Policies with higher limits will cost you more, though many companies offer a flat rate for policies that you can’t customize.

When looking for cheap E&O insurance for real estate agents, you’ll also have to consider your history as an agent. Agents with a checkered history may pay more for their coverage or may even be refused.

Error and Omissions Insurance Cost for Real Estate Agents and Realtors

Here’s a breakdown of E&O insurance cost for real estate agents and realtors based on the company that you might be working with:

Company Cost per month Cost per year
eXp Realty $85* $1020**
Rice Insurance $56 $672
Keller Williams $33 $396

*+ $40 per transaction

**+ a maximum of $500 per year

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E&O Insurance for Realtors and Real Estate Agents

E&O coverage is the most popular form of insurance for realtors because it applies to the vast majority of situations in which real estate agents end up getting sued. E&O insurance is also known as professional liability coverage, and it kicks in when an agent gets sued for making a mistake while working.

Real estate agents are entrusted with giving their clients information that is accurate and actionable, and if you fail to do that, you can end up on the receiving end of a lawsuit. For example, if a client alleges that you’re negligent and wins the case, E&O coverage will kick in to cover your expenses.

Along with the settlement itself, E and O insurance for realtors will help pay for expenses related to the lawsuit brought against you. These can include lawyer fees that you have to pay for your representation as well as court costs and administrative fees that you are responsible for.

Best E&O Insurance for Realtors

When shopping around for insurance for real estate agents and businesses, it’s usually a good idea to closely consider the companies that you intend to work with. Many companies in the real estate broker insurance space are specialized because this kind of coverage requires specific knowledge that many carriers don’t have. However, to find the best rates and coverage options from the best insurers in America, we recommend you to click the 'Get Quotes' button at this page and complete the form to compare quotes online and have them all compete on your business, for your best benefit.

eXp Realty E&O Insurance

eXp Realty is a residential real estate brokerage that also offers insurance policies to the realtors that are members. eXp believes in taking a progressive approach to real estate insurance, taking full advantage of the internet and any tools at their disposal to get their members the support they need.

eXp Realty Policy Details

eXp offers a flat-rate real estate broker errors and omissions insurance policy to all of their members, charging them $40 per transaction with a maximum cost of $500 per year. However, you also have to pay for eXp membership if you want to take advantage of their insurance policies, which costs $85 per month, though membership offers additional bonuses.


  • eXp membership comes with stock

  • Reasonable price

  • Charged per transaction


  • Requires membership

Average cost: $40 per transaction

Best for: Extra benefits

Our Rating: 4.5/5

Rice Insurance Real Estate Errors & Omissions Insurance

Rice Insurance specializes in E&O insurance for realtors, and they operate in the majority of states that require realtors to maintain active insurance. The company is supported by the Continental Casualty Company, which maintains an A.M. Best rating of A.

Rice Insurance Policy Details

Rice’s errors and omissions insurance for real estate agents depends on the state in which it is purchased. Since every one of these states has different requirements for realtor E&O coverage, the policy varies based on where you purchase it and it only applies in the state in which a realtor is licensed.


  • Available in 12 out of 13 states where insurance is mandated

  • Pays out for legal fees and covered damages

  • Affordable


  • Not a carrier itself

Average cost: $56 per month

Best for: Low real estate broker insurance cost

Our Rating: 4.3/5

Keller Williams E&O Insurance

Keller Williams has been in business since 1983, and it’s one of the largest real estate companies worldwide. Despite not being an insurance carrier, they work closely with Austin and Austin Insurance Services to ensure that every real estate agent that works with them has comprehensive real estate business insurance.

Keller Williams Policy Details

The realtor errors and omissions insurance policy from Keller Williams features a $2 million limit for each claim and a $2 million aggregate limit. In certain cases, there may even be a 50% deductible reduction, and legal fees are split 80/20.


  • High limits

  • Affordable

  • Applies to residential and commercial sales


  • Legal fee split

Average cost: $33 per month

Best for: Commercial real estate agents

Our Rating: 4.5/5

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