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Real Estate Broker Insurance: Cost & Quotes From $25/mo

Table of contents
1. General Liability Insurance for Real Estate Brokers1.1. Add-Ons of General Liability Insurance for Real Estate Brokers1.2. Coverage Limits of General Liability Insurance for Real 1.3. What Can Affect the Price of General Liability Insurance?2. Professional Liability  Insurance for Real Estate Brokers2.1. What is E&O Insurance?2.2. Add-Ons of Professional Liability Insurance for Real Estate Brokers2.3. Coverage Limits of Professional Liability Insurance for Real Estate Brokers3. Commercial Property Insurance for Real Estate Brokers3.1. Add-Ons of Commercial Property Insurance for Real Estate Brokers3.2. Coverage Limits of Commercial Property Insurance for Real Estate Brokers3.3. What if I Have a Home Business?3.4. Does My Commercial Property Policy Cover Vehicles?4. Business Owner’s Policy for Real Estate Brokers4.1. Add-Ons of Business Owner’s Policy for Real Estate Brokers4.2. Coverage Limits of Business Owner’s Policy for Real Estate Brokers4.3. Is Business Owner’s Policy Required by Law?4.4. Is Non-owned Auto Insurance Able to Be Added to My Business Owner’s Policy?5. Tools and Equipment Insurance for Real Estate Brokers5.1. Add-Ons of Tools and Equipment Insurance for Real Estate Brokers5.2. Coverage Limits of Tools and Equipment Insurance for Real Estate Brokers5.3. What is the Main Advantage of Tools and Equipment Insurance?6. Commercial Auto Insurance for Real Estate Brokers6.1. Coverage Limits of Commercial Auto Insurance for Real Estate Brokers6.2. Add-Ons of Commercial Auto Insurance for Real Estate Brokers6.3. Can I Use My Personal Vehicle for Commercial Auto Insurance?7. Workers Compensation Insurance for Real Estate Brokers7.1. What is a First Report of Injury?7.2. Are There Limits to Workers’ Compensation Benefits?7.3. Add-Ons of Workers’ Compensation for Real Estate Brokers8. Real Estate Broker  Insurance Cost9. Best Real Estate Broker Insurance Companies9.1. NEXT Real Estate Broker Insurance 9.1.1. Pros9.1.2. Cons9.2. The Hartford Real Estate Broker Insurance 9.2.1. Pros9.2.2. Cons9.3. CoverWallet Real Estate Broker Insurance 9.3.1. Pros9.3.2. Cons9.4. Tivly Real Estate Broker Insurance 9.4.1. Pros9.4.2. Cons9.5. Thimble Real Estate Broker Insurance 9.5.1. Pros9.5.2. Cons9.6. Hiscox Real Estate Broker Insurance 9.6.1. Pros9.6.2. Cons

There were 48,060 real estate brokers in the US in 2022.  As a real estate broker, you need to protect your business financially now more than ever. One way to do that is through a comprehensive insurance policy. Consider getting insured because you’ll need adequate coverage just like real estate agents

By getting covered, you can rest easy even if you get involved in a lawsuit with a real estate investor. You can also use your insurance policy to cover financial losses in case the office gets damaged or destroyed. Continue reading to get answers to your questions about real estate broker insurance

General Liability Insurance for Real Estate Brokers


CoverWallet NEXT (Best)Thimble HiscoxThe Hartford
Per occurrence limit $1,000,000$1,000,000$1,000,000/$2,000,000$300,000/$1,000,000$1,000,000/$2,000,000
Aggregate limit $2,000,000$1,000,000/$2,000,000$1,000,000/$2,000,000$300,000/$2,000,000$1,000,000/$2,000,000
Products and completed operations aggregate limit $2,000,000
$1,000,000$1,000,000$1,000,000$1,000,000
Advertising injury coverage aggregate limit $1,000,000$1,000,000$1,000,000$1,000,000$1,000,000
Tenant’s legal liability coverage limit $100,000
$100,000$5,000$100,000$1,000,000
Waiver of subrogation included?YesNoIncludedCan be includedNo
Hired/non-owned auto liability coverage included?YesNoExcludedCan be includedCan be included
Equipment breakdown floater included?No YesYesCan be includedCan be included


General liability insurance for real estate brokers is a policy that protects you from third-party injury and property damage claims. Some situations to use this policy include:

  • A customer slips and falls while walking on your business property

  • While helping a customer, one of your employees accidentally damages their personal property


Add-Ons of General Liability Insurance for Real Estate Brokers

A real estate broker can further customize his policy by adding on additional insurance protection. Some examples include:

  • Employment practices liability–Adds protection for discrimination, harassment, and wrongful termination claims from employees

  • Tools and equipment–This coverage helps protect tools and equipment used for business when they are damaged or stolen in covered events


Coverage Limits of General Liability Insurance for Real 

The coverage limits for this real estate broker liability insurance will often vary but are typically at $1 million per occurrence and $2 million in aggregate for the policy term.


What Can Affect the Price of General Liability Insurance?

Generally, the price of general liability insurance is based on the amount of risk in your business, the size of your business, its financial position, and the size of your employee payroll.


Professional Liability  Insurance for Real Estate Brokers


CoverWallet NEXTThimble (Best)HiscoxThe Hartford
Per occurrence limit $1,000,000$1,000,000$1,000,000/$2,000,000$1,000,000$1,000,000
Aggregate limit $2,000,000$2,000,000$1,000,000/$2,000,000$1,000,000$2,000,000
Name additional insureds?YesYesYesYesYes
Waiver of subrogation included?YesNoYesCan be includedNo


Professional liability insurance for real estate brokers is a type of insurance policy that protects against mistakes, errors, and negligence in your business practices. Examples of when coverage can apply  include:

  • A client lawsuit accused you of failing to provide adequate services

  • A mistake that one of your real estate brokers made caused the customer to lose money.


What is E&O Insurance?

Real estate broker e&o insurance is another name for professional liability insurance. Real estate broker errors and omissions insurance protects from a variety of different kinds of claims like:

  • Breach of contract

  • Failing to maintain listings

  • Mistakes in drafting sale documents

  • Not keeping client matters confidential


Add-Ons of Professional Liability Insurance for Real Estate Brokers

  • Additional insured–This allows you to add other parties to your insurance policy that are not part of the original coverage. Typically additional insured parties have more limited protection unlike the policyholder

  • Excess liability–Allows you to purchase additional coverage beyond the coverage limits of your real estate broker professional liability insurance policy


Coverage Limits of Professional Liability Insurance for Real Estate Brokers

The coverage limits of real estate broker e&o insurance are $250,000 and $2 million per occurrence and aggregate. 

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Commercial Property Insurance for Real Estate Brokers


CoverWalletNEXT (Best)ThimbleThe HartfordHiscox
Building coverage limit (minimum)$50,000$330,000$25,000/$500,000$60,000$25,000
Contents coverage limit (minimum)$50,000$35,000$25,000/$500,000$60,000$15,000
Outdoor signsExcluded$2,500ExcludedExcludedIncluded
Accounts receivable ExcludedExcluded$5,000/$10,000ExcludedIncluded
Money and securitiesExcluded$2,500$1,000ExcludedIncluded
Lock and keys Excluded$2,500ExcludedExcludedIncluded
Business interruption floaterExcludedIncludedIncludedExcludedIncluded
Equipment breakdown floaterExcludedIncludedExcludedExcludedIncluded
Inland marine insurance floaterExcludedExcluded$10,000ExcludedExcluded
Employee dishonesty floaterExcluded$5,000$2,500ExcludedExcluded


Commercial property insurance protects your building and the property contained within it. Some situations where this insurance is used include:

  • A fire breaks out on your business property

  • Severe windstorms damage some of your equipment

  • A criminal breaks into your office and steals some electronics


Add-Ons of Commercial Property Insurance for Real Estate Brokers

Some add-ons to consider include:

  • Flood insurance–Provides protection from floodwater damage that might not be covered in a standard commercial property policy

  • Equipment breakdown–Covers damage from internal forces on your equipment from things like mechanical failure or power surges


Coverage Limits of Commercial Property Insurance for Real Estate Brokers

A typical coverage limit for commercial property is around $60,000. Your coverage limit is calculated based on the value of your commercial property.


What if I Have a Home Business?

Commercial property insurance automatically offers a  home-based business policy wording. This means that the policy will treat your home as a commercial property so long as a covered peril happened while it’s being used for business operations. 


Does My Commercial Property Policy Cover Vehicles?

Typically no. You would need commercial auto insurance to cover liabilities and damage to your business vehicles. Commercial property insurance will cover property like equipment and supplies that are stored at your business premises.