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Real Estate Agent & Realtor Insurance: Cost & Quotes

Table of contents
1. Real Estate Agent Insurance Requirements2. Real Estate Agent Auto Insurance Requirements3. E&O Insurance for Realtors And Real Estate Agents3.1. Add-Ons of Professional Liability Insurance for Real Estate Brokers3.2. Coverage Limits of Professional Liability Insurance for Real Estate Brokers3.3. What is PI Insurance?3.4. How is Real Agent and Real Estate Broker E&O Insurance Underwritten?4. General Liability Insurance for Real Estate Agents And Realtors4.1. Other Risks General Liability Insurance for Realtors And Real Estate Agents Covers4.2. Add-Ons for General Liability Insurance4.3. Coverage Limits of General Liability Insurance4.4. What Can Affect the Price of General Liability Insurance?5. Commercial Auto Insurance for Real Estate Agents And Realtors 5.1. Coverage Limits of Commercial Auto Insurance for Real Estate Brokers5.2. Add-Ons of Commercial Auto Insurance for Real Estate Brokers5.3. Can I Use My Personal Vehicle for Commercial Auto Insurance?6. Commercial Property Insurance for Real Estate Agents And Realtors 6.1. Add-Ons of Commercial Property Insurance for Real Estate Brokers6.2. Coverage Limits of Commercial Property Insurance for Real Estate Brokers6.3. What if I Have a Home Business?6.4. Does My Commercial Property Policy Cover Vehicles?7. Business Owner’s Policy for Real Estate Agents7.1. Add-Ons of Business Owner’s Policy for Real Estate Agents7.2. Coverage Limits of Business Owner’s Policy for Real Estate Agents7.3. Is Business Owner’s Policy Required by Law?7.4. Can Non-owned Auto Insurance Be Added to My Business Owner’s Policy?8. Tools and Equipment Insurance for Real Estate Agents8.1. Add-Ons of Tools and Equipment Insurance for Real Estate Brokers8.2. Coverage Limits of Tools and Equipment Insurance for Real Estate Brokers8.3. What is the Main Advantage of Tools and Equipment Insurance?9. Workers Compensation Insurance for Real Estate Agents And Realtors 9.1. What is a First Report of Injury?9.2. Are There Limits to Workers’ Compensation Benefits?9.3. Add-Ons of Workers’ Compensation for Real Estate Brokers and Real Estate Agents10. Employer’s Liability Insurance for Real Estate Agents And Realtors11. Cyber Liability Insurance for Real Estate Agents And Realtors 12. Realtor And Real Estate Agent Insurance Requirements13. Realtor And Real Estate Agent Insurance Cost 13.1. Error And Omissions Insurance Cost for Real Estate Agents And Realtors14. Real Estate Broker  Insurance Cost15. Best Real Estate Agent And Realtor Insurance Companies15.1. NEXT Real Estate Agent And Realtor Insurance 15.1.1. Pros15.1.2. Cons15.2. CoverWallet Real Estate Agent And Realtor Insurance 15.2.1. Pros15.2.2. Cons15.3. Tivly Real Estate Agent And Realtor Insurance 15.3.1. Pros15.3.2. Cons15.4. Thimble Real Estate Office Insurance  15.4.1. Pros15.4.2. Cons15.5. Hiscox Real Estate Agent And Realtor Insurance 15.5.1. Pros15.5.2. Cons16. Best E&O Insurance for Realtors And Real Estate Agents 16.1. eXp Realty E&O Insurance 16.1.1. Pros16.1.2. Cons16.2. Keller Williams E&O Insurance 16.2.1. Pros16.2.2. Cons16.3. Rice Insurance Real Estate Errors & Omissions Insurance 16.3.1. Pros16.3.2. Cons

Real estate has its own set of risks. Investors can sue you, employees can get hurt while inspecting a property, and business property can get lost or damaged. It’s also common for agents and brokers to be sued for professional negligence. Consider real estate agent insurance. In this discussion, you will learn:

  • The functions of errors and omissions insurance for real estate agents

  • Other policies you need aside from errors and omissions insurance

  • How much you’ll pay for premiums

  • Which companies provide the best real estate agent and realtor insurance

Real Estate Agent Insurance Requirements

Real estate agent insurance requirements vary per state and will highly depend on the licensing body that oversees your practices. Consider getting $1 million-$2 million errors and omissions insurance so that you don’t fall short. General liability insurance might not be required. But still, purchase the policy and get at least $1 million coverage. 


Real Estate Agent Auto Insurance Requirements

Real estate agent auto insurance requirements vary based on your state. For example, if you’re in California, then you must have auto insurance that provides liability coverage of $15,000 per person, $30,000 per injury for more than one person, and $5,000 for property damage. On the other hand, if you’re in New York, auto insurance requirements will be $30,000 per injured person, $60,000 per accident, and $25,000 for property damage. 


E&O Insurance for Realtors And Real Estate Agents

Limits Of Real Estate Agent And Realtor Errors and Omissions Insurance 


Value 
Professional liability per occurrence limit $1 million-$2 million 
Professional liability aggregate limit $1 million-$2 million 
Intellectual property infringement coverage limit$1 million-$2 million 
Coverage limit for legal representation at  inquiries$100,000
Coverage limit for public relations expenses$2,500
Compensation for income loss due to court attendance$2,500
Deductible$500-$1,000


As a real estate agent, you sell or appraise real property, facilitate negotiations, and provide accurate pricing of different properties for the benefit of many clients. 

Clients can file a claim if they experience issues because of your services. This is why it’s very important to get e&o insurance for realtors and real estate agents

Professional liability for real estate agents grants protection when a client holds your services liable for his or her losses. Here are some example situations where you’ll find this insurance useful:

  • A client filed a claim and accused you of getting a commission more than what was agreed upon

  • A buyer filed a claim and cited that you didn’t disclose that the property has high levels of asbestos

  • You inflated the cost of the property to get higher commissions

  • You lost the important documents of a client, and this created problems in the sale of the property 

  • You disclosed the important information of a client to a third party without prior consent 


Also called professional liability insurance and professional indemnity insurance, errors and omissions insurance is designed to cover these costs every time a claim for negligence, breach of fiduciary duty, violation of fair dealing, inaccurate advice, and other related offenses is filed:

  • Settlements

  • Public relations expenses

  • Defense costs such as attorney fees, court filing fees, and others

  • Court judgments


Real estate agent professional liability insurance isn’t required by law but is nonetheless important because oversights can happen anytime. Consider getting this type of realtor insurance because it will help with your reputation, revenues, and peace of mind. 


Add-Ons of Professional Liability Insurance for Real Estate Brokers

Professional liability insurance for real estate brokers offers additional coverages. By availing this, you enjoy better protection. Here are some of the most common ones:

  • Extended reporting period–This add-on to PI insurance for real estate agents and brokers allows the policyholder past the effective date of the coverage

  • 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.  But note that this just a minimum amount. It’s possible for real estate agent and real estate broker errors and omissions insurance to have as much as $5 million-$10 million per occurrence and aggregate limit. 


What is PI Insurance?

Real estate PI insurance is a short-term for professional indemnity insurance. Professional indemnity insurance is another name for errors and omissions insurance 


How is Real Agent and Real Estate Broker E&O Insurance Underwritten?

Professional liability coverage is a type of real estate agent and real estate broker liability insurance that’s underwritten as a claims-made or occurrence policy. An occurrence professional liability insurance grants protection even if it has expired so long as a covered peril happened during it’s lifetime. On the other hand, a claims made professional liability insurance can only be used while its active. You need an extended reporting period add-on to make this more comprehensive. 


General Liability Insurance for Real Estate Agents And Realtors

Limits Of General Liability Insurance for Real Estate Agents And Realtors 


Value 
General liability per occurrence limit $1 million-$2 million
General liability aggregate limit $1 million-$2 million 
Products and completed operations coverage limit $1 million 
Advertising injury coverage limit$1 million 
Rented premises liability coverage limit $250,000
Medical payments coverage limit $5,000-$10,000


Accidents can happen in your office. This is why you must also get general liability insurance aside from errors and omissions insurance. 

General liability insurance for real estate companies and agents kicks in when a claim for bodily injuries or property damage is filed by clients, independent contractors, businesses, and other third parties. Some situations where you’ll find this real estate company and real estate agent liability insurance useful are when:

  • An independent contractor is repairing the fixtures of your office. He falls from the ladder and sustains injuries

  • The client was inside your office and lost his phone. He demands you refund his loss

  • A representative of another company visited your office to deliver something. He slipped and fell on a wet floor

  • You and a client were touring a property. He tripped over something and sustained bruises

  • You damaged a furniture while showing the client’s house to a prospective buyer 


In connection, this type of real estate agent insurance policy takes care of these costs each time a claim is filed:

  • Medical treatments–The general liability policy of your property agent insurance package allows you to cover the medical treatment of a third party who sustained injuries because of your fault.

  • Refunds for property damage–You can use general liability insurance for real estate brokers and real estate gents to get the funds needed to refund the property of the client that got lost or damaged because of your fault

  • Settlements–This type of realtor liability insurance provides the funds you can use as a settlement for a third party’s loss, pain, or suffering

  • Defense costs–General liability is a type of real estate business insurance that helps with lawsuits. It takes care of attorney fees, court filing fees, investigation fees, and other related expenses on your behalf


Other Risks General Liability Insurance for Realtors And Real Estate Agents Covers

General liability is very comprehensive. And so, it will also protect you against these exposures:

  • Liability over rented premises–General liability insurance comes with rented premises liability coverage. This allows you to indemnify the losses of the landlord in case a space you’re renting is damaged by fire

  • Advertising injury and defamation–Advertising injury coverage is included in the language of general liability insurance. The policy will help cover settlements and defense costs if you’re liable for copyright infringement, slander, or libel

  • Liability over products and completed operations–General liability insurance comes with products and completed operations coverage. This takes care of your responsibility over finished transactions. A situation where you’ll find this useful is when a buyer sustains injuries or property damage because of his new house and blames you for it

Add-Ons for General Liability Insurance

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

The coverage limits for this real estate broker liability insurance will often vary but are typically $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.

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Commercial Auto Insurance for Real Estate Agents And Realtors 

Limits Of Commercial Auto Insurance for Real Estate Agents And Realtors 


Value
Auto liability coverage limit (minimum)$25,000 per bodily injury
$50,000 per accident
$15,000 per property damage 
Underinsured motorist coverage limit (minimum)$25,000 per bodily injury
$50,000 per accident 
Uninsured motorist coverage limit (minimum)$25,000 per bodily injury
$50,000 per property damage 
Comprehensive and collision coverage limit Equal to your vehicle’s replacement cost 
Rental reimbursement coverage limit $50 per day
$1,900 max


Realtors and real estate agents are constantly on the go. It's bliss to have a personal car. While you might think of only using personal car insurance, we suggest you switch to commercial auto insurance for more comprehensive protection. 

Real estate car insurance – a commercial auto policy – provides coverage for all the time you use your vehicle to meet clients, take them to properties, and deliver documents to the office. Typically, this insurance will have the following:

  • Auto liability coverage–Commercial car insurance for realtors has auto liability coverage. And so, the policy can cover these costs if you cause an accident while driving to meet a client or inspect a real property with clients: medical treatment of the injured parties, reimbursement for the damaged properties of third parties, settlements, defense costs if the victims of the accident decide to sue, court judgments. Note that auto liability coverage doesn’t cover instances of vehicular accidents caused by reckless driving, DUI, and other criminal activities

  • Physical damage coverage–Commercial auto insurance for real estate agents and brokers comes with physical damage coverage. It will help you cover the cost of vehicle maintenance. We can further classify physical damage coverage as collision or comprehensive. Collision physical damage coverage means that commercial auto insurance will cover repair or replacement expenses if your commercial vehicle got damaged in a vehicular accident. The comprehensive physical damage coverage of commercial auto insurance takes care of costs if fire, theft, vandalism, weather, and other covered perils damaged your commercial vehicle

  • Uninsured/underinsured motorist coverage–Underinsured and uninsured motorist coverage are also included in realtor car insurance.  These will cover your medical expenses in case an accident happens, and the driver who caused it isn’t insured or doesn’t have enough auto liability insurance

  • Rental reimbursement coverage–You can add rental reimbursement coverage the commercial car insurance for real estate agents. By having this, the policy will reimburse your fair or vehicle rental expenses while your own auto is out of commission and is being repaired


Coverage Limits of Commercial Auto Insurance for Real Estate Brokers

Commercial auto coverage ranges between $100,000 and $1 million. Typically it is recommended that you shoot for a coverage of at least $500,000.


Add-Ons of Commercial Auto Insurance for Real Estate Brokers

  • Roadside assistance–Helps cover costs to get your vehicle out of a bad situation on the road, like towing fees

  • GAP coverage–GAP coverage will cover the remainder of you the cost you owe on a loaned vehicle when it gets totaled due to theft, vandalism, fire, collision, and other covered perils 


Can I Use My Personal Vehicle for Commercial Auto Insurance?

Yes, some insurance providers allow you to use your personal vehicle with commercial auto insurance. Keep in mind this will only cover your vehicle when it is being used for business-related matters.


Commercial Property Insurance for Real Estate Agents And Realtors 

Limits Of Commercial Property Insurance for Real Estate Agents And Realtors 


Value 
Building coverage limit $25,000-$1 million 
Contents coverage limit $25,000-$1 million 
Outdoor property coverage limit $1,000-$2,500
Personal effects coverage limit $500-$2,500
Coverage limit for off-premises business property $10,000
Accounts receivable $5,000-$10,000


Your office and its contents are valuable. You spent a lot on such properties. This is why just like real estate investors, you also need commercial property insurance. 

Commercial property insurance will cover your office. This insurance will grant reimbursement for financial losses, so that you can cover your real estate office’s repair or reconstruction. Coverage applies when the office gets damaged or destroyed by:

  • Fire

  • Theft 

  • Vandalism

  • Riot

  • Civil commotion

  • Malicious mischief

  • Impact

  • Vehicle

  • Aircraft

  • Volcanic action

  • Sinkhole collapse

  • Rain

  • Winds

  • Snow 

  • Hail

  • Lightning


Most insurance companies allow the policy to cover a condo office, a home office, and a dedicated commercial building you own, rent, or lease. Others are less forgiving and only insure an office you own. 

The coverage of commercial property insurance also applies to your office’s contents, such as papers, cash, printed files and documents, furniture, fixtures, interior installations, etc. 

Remember that commercial property insurance has exclusions, and it can’t give a helping hand if something happens to your office because of floods, earthquakes, landslides, or mudslides. Consider adding riders or endorsements to cover these exposures. 


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.


Business Owner’s Policy for Real Estate Agents

Your investment works well with a business owner’s policy. This insurance combines the protection of general liability and commercial property insurance. Here are some situations where this insurance can help:

  • A customer injures themselves while walking through a house tour

  • A weather event causes property damage to your real estate office


Add-Ons of Business Owner’s Policy for Real Estate Agents

  • Business interruption–Protects your business's lost profits from a physical peril and helps you make payments on loans, mortgages, and rent

  • Outdoor property–Extends protection to outside business property like real estate signs

  • Employee dishonesty–Covers incidents that employees cause, like stolen office equipment, forgery, and cyber crimes. It is important to consider because employee theft costs $50 billion per year, according to the AWCI


Coverage Limits of Business Owner’s Policy for Real Estate Agents

BOP has a typical coverage limit of $1 million per occurrence for general liability, and the commercial property coverage is determined by your property's value.



Is Business Owner’s Policy Required by Law?

No. Most components of BOP are not required by law. However, many clients and companies you work with might require a form of general liability insurance to do business. Some landlords might also require commercial property insurance if you rent your business space.


Can Non-owned Auto Insurance Be Added to My Business Owner’s Policy?

Yes, it can be. This policy adds protection for employees' personal vehicles that they use for business purposes.


Tools and Equipment Insurance for Real Estate Agents

Tools and equipment insurance is a policy that protects your tools and equipment if they get damaged, destroyed, or stolen. Example situations include:

  • Your computer equipment gets stolen by someone looking to sell it

  • The camera or computer you use gets damaged by a lightning surge 


Add-Ons of Tools and Equipment Insurance for Real Estate Brokers

  • Equipment breakdown coverage–Real estate brokers can purchase this coverage to protect tools and equipment from damage that causes that may normally be excluded. This can include causes like mechanical breakdowns and power outages that cause an electronic surge.

  • Inland marine–A type of insurance coverage that protects tools and equipment when they are stored offsite as well as during transportation


Coverage Limits of Tools and Equipment Insurance for Real Estate Brokers

Tools and equipment insurance covers around $5,000. Higher limits are available if you have more expensive equipment.


What is the Main Advantage of Tools and Equipment Insurance?

Tools and equipment insurance gives you flexibility because it covers your tools while they are off your business property. This means you can bring your real estate tools with you and not have to worry about them if they get damaged or stolen.



Workers Compensation Insurance for Real Estate Agents And Realtors 

Workers comp for real estate agents and brokers is handy for working with full-time or part-time associates. 

You must provide compensation if an employee sustains an injury while meeting a client, inspecting a real property, or showing a client around. Workers' compensation insurance assumes this responsibility on your behalf. 

Each time an employee of your real estate agency sustains a work-related injury, this business insurance for real estate agents takes care of these costs:

  • Medical treatment–Your real estate agency can use workers' compensation insurance to cover first aid treatment and emergency medical care for an employee who sustained an occupational injury

  • Hospitalization–Workers' compensation insurance is designed to cover fees for room, nursing, food, and other bills if your employee, who sustained a work-related injury, needs to stay in the hospital

  • Medication–Carriers allow your real estate agency to use workers' compensation insurance so that an injured employee can buy the needed medicines

  • Rehabilitation–Workers' compensation insurance can provide funds if an employee needs rehabilitative care to fully recover from an occupational disease and resume his or her duties

  • Lost wages–Your real estate agency can use workers' compensation insurance to cover the lost wages of an employee who sustained an occupational injury. The policy provides a weekly allowance equal to two-thirds or 67% of the average weekly wage

  • Death benefits–If your employee dies because of an occupational injury, workers' compensation insurance will take care of funeral expenses and provide an allowance to dependents


Workers' compensation insurance can also help if your employee sustained an occupational disease. However, you must provide solid proof that such is the case. 

Note that workers comp only covers full-time and part-time employees. Independent contractors, volunteers, and interns aren’t automatically named as insureds in the terms of the policy. Nonetheless, you can provide coverage to these entities by listing them as additional insureds. 


What is a First Report of Injury?

A First Report of Injury (FROI) is an important form that helps employees get their benefit claims process started. It is filed by the worker, employer, or medical provider and sent to the insurance provider.


Are There Limits to Workers’ Compensation Benefits?

Some types of employee benefits will have no limits or exclusions. However, a state’s governing body will typically limit the amount of lost wages that can be paid out.


Add-Ons of Workers’ Compensation for Real Estate Brokers and Real Estate Agents

  • Employer’s liability–Provides protection to the employer when employees sue for negligence following a work-related injury or disease. It is sometimes automatically included in your workers’ compensation policy



Employer’s Liability Insurance for Real Estate Agents And Realtors

Limits Of Employer’s Liability Insurance for Real Estate Agents And Realtors


Value 
Employee bodily injury by accident coverage limit $100,000-$2 million
Employee bodily injury by disease coverage limit $500,000-$2 million 
Employee bodily injury per policy $100,000-$2 million 


Employer’s liability insurance is commonly offered as part of workers' compensation insurance. This will take care of settlements, defense costs, and compensation for punitive damages if an employee sues you for negligence after sustaining a work-related injury or disease. 


Cyber Liability Insurance for Real Estate Agents And Realtors 

If you collect data such as addresses and financial information in order to find the best properties for clients, then cyber liability insurance is absolutely helpful. 

Cyber liability insurance provides protection when an employee error, cybersecurity issue, or cyberattack results in the leakage of clients’ confidential information. This policy takes care of these costs:

  • Defense costs

  • Investigation expenses

  • Data recovery expenses

  • Credit and identity monitoring expenses 

  • Public relations expenses for informing affected clients

  • Cost of professional services for containing the breach

  • Business income loss


Cyber liability insurance has a $250,000-$2 million coverage limit. Some insurance companies allow you to get up to $10 million coverage from this insurance. 


Realtor And Real Estate Agent Insurance Requirements

Realtor and real estate agent insurance requirements vary per state and will highly depend on the licensing body that oversees your practices. Consider getting $1 million-$2 million errors and omissions insurance, so that you don’t fall short. General liability insurance might not be required. But still, purchase the policy and get at least $1 million coverage. 

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Realtor And Real Estate Agent Insurance Cost 

The cost of a $1 million general liability insurance for real estate agents is $39 per month or $468 per year. Many factors affect the realtor and real estate agent insurance cost, and your rates can be exactly the same or a bit different from the estimate we provided. 

Significant factors that affect real estate and realtor insurance cost are revenues, number of associates, claims history, business history, and location. Which insurance company you work with also matters. And so, here’s a table showing the rates of the carriers that offer the best insurance for real estate agents:


Cost per MonthCost per YearBest for
NEXT$28$336Best overall; Fastest general liability insurance for real estate agents and realtors
CoverWallet$31.08$372.96Real estate agent and realtor insurance online quotes comparison
Tivly$33$396Comparing real estate and realtor insurance quotes over the phone
Thimble$35$420On-demand general liability insurance for real estate offices
Hiscox$37$444General liability insurance with worldwide coverage for real estate agents and realtors


You get the best picture of real estate agent cost by comparing quotes. Compare the pricing of carriers by clicking the “Get Quotes” button on this page. 


Error And Omissions Insurance Cost for Real Estate Agents And Realtors

The cost of E&O insurance for realtors and real estate agents is $50 per month or 600 per year. Many factors affect real estate broker e&o insurance cost, such as claims history, revenues, business history, location, and more. In connection, here’s a table showing the error and omissions insurance cost for real estate agents and realtors as charged by the recommended carriers:


Cost per monthCost per yearBest for
eXp Realty$40$480eXp members
Rice Insurance$53$636Errors and omissions for real estate agents and realtors that satisfies state requirements
Keller Williams$56$672Errors and omissions insurance for real estate agents and realtors with low deductibles


While premiums might be expensive, you can get cheap e&o insurance for real estate agents and realtors by:

  • Having clients sign off deliverables

  • Paying higher deductibles

  • Bundling policies 

  • Keeping up-to-date with certifications and trainings 


Real Estate Broker  Insurance Cost

The average real estate broker insurance cost is $47 per month or $564 per year for a $1 million general liability insurance. Factors that affect the cost of premiums are claims history, business history, deductibles, policy limits, revenues, and location.

Compare Real Estate Agent & Realtor Insurance Quotes Online

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Best Real Estate Agent And Realtor Insurance Companies

Consider working with these companies. Read some of the reviews below to know their pros, cons, and rate for a $1 million general liability insurance. 


NEXT Real Estate Agent And Realtor Insurance

Pros

  • Best overall

  • Get an online proof of insurance and send as a text message, email, or social media post

  • Fastest general liability insurance

  • Great customer service and reputation

  • Issues an online proof of insurance instantly

  • Outstanding value for money

  • Bundle two or more insurance policies and get a 10% discount 

Cons

  • Couldn’t find any

Realtors and real estate agents can get general liability, workers' compensation, commercial property, and errors and omissions insurance from NEXT

This company’s general liability insurance provides a $300,000 minimum coverage. You can upgrade the policy to increase limits up to $1 million and enjoy a $1 million professional liability coverage. 

Best for: Best overall; Fastest general liability insurance for real estate agents and realtors 

Average cost: $28 per month 

Our rating: 10/10


CoverWallet Real Estate Agent And Realtor Insurance

Pros

  • Competitive rates

  • Compare real estate insurance quotes online

  • No deductibles on general liability insurance

  • Online policy management and payment of premiums

Cons

  • Not an insurance company but an insurance broker

CoverWallet sells general liability, errors and omissions, commercial property, workers' compensation, and cyber liability insurance for real estate agents and realtors. Note that this company also sells real estate broker insurance policies. 

Your general liability insurance from CoverWallet will have a $1 million per occurrence limit and a $2 million aggregate. You can name additional insureds on the policy for free. This carrier also allows you to add non-owned/hired auto liability coverage to the policy. 

Best for: Real estate agent and realtor insurance online quotes comparison

Average cost: $31.08  per month 

Our rating: 10/10


Tivly Real Estate Agent And Realtor Insurance

Pros

  • Responsive customer service

  • Call and get quick coverage

  • A partner of many reputable insurance companies 

Cons

  • You need to call to get a quote 

Tivly (formerly CommercialInsurance.NET) offers general liability, commercial property, workers' compensation, and other business insurance policies to realtors and real estate agents. A representative will discuss the features of your insurance. 

Call Tivly now to compare real estate agent and realtor insurance quotes over the phone and get covered. 

Best for: Comparing real estate and realtor insurance quotes over the phone

Average cost: $33 per month

Our rating: 10/10


Thimble Real Estate Office Insurance 

Pros

  • Short-term general liability insurance

  • Choose limits and deductibles

  • Issues an estimate of your rates quickly 

Cons

  • Doesn’t sell commercial property insurance as a stand-alone policy

Thimble provides coverage for real estate offices such as those of agents, realtors, brokers, and investors. Policies you can get are workers' compensation, general liability, and business owner’s policy. 

Your general liability insurance from this company has a $1 million minimum limit. Thimble allows you to add $2,500 coverage for business equipment. Last but not least, you can get this company’s general liability insurance as an hourly, daily, or weekly policy. 

Best for: On-demand general liability insurance for real estate offices

Average cost: $35 per month

Our rating: 9/10


Hiscox Real Estate Agent And Realtor Insurance

Pros

  • Worldwide coverage

  • In-house team of claims adjusters

  • 14-day money-back guarantee

Cons

  • Commercial auto insurance and workers' compensation insurance is sold in partnership with other carriers

Hiscox underwrites general liability, business owner’s policy, and cyber liability insurance for realtors and real estate agents. Other policies you can get from this company are underwritten by partners. 

Your general liability insurance from this company provides $250,000-$2 million coverage.  Hiscox allows you to upgrade its general liability insurance to enjoy a waiver of subrogation and naming of additional insureds. 

Best for: General liability insurance with worldwide coverage for real estate agents and realtors

Average cost: $37 per month

Our rating: 9/10


Best E&O Insurance for Realtors And Real Estate Agents 

These are the best E&O insurance for realtors and real estate agents. Read to know their pros, cons, and their e&o insurance cost for real estate agents and realtors. 


eXp Realty E&O Insurance

Pros

  • eXp membership comes with stock

  • Reasonable price

  • Professional liability insurance includes coverage for your business personal property

Cons

  • You need to become a member to get other insurance policies 

eXp Realty is a residential real estate brokerage that also offers insurance policies to the realtors and agents 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 offers a flat-rate real estate broker errors and omissions insurance policy to all of their members, charging them $40 per month with a maximum cost of $480 per year. However, you also have to pay for eXp membership if you want to take advantage of other insurance policies.

Best for: eXp members 

Average cost: $40 per month 

Our rating: 9/10


Keller Williams E&O Insurance

Pros

  • High limits

  • Low deductibles

  • Applies to residential and commercial sales

Cons

  • Legal fee split

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.

The real estate agent and real estate broker e&o insurance 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.

Best for: Errors and omissions insurance for real estate agents and realtors with low deductibles

Average cost: $56 per month

Our rating: 9/10


Rice Insurance Real Estate Errors & Omissions Insurance

Pros

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

  • Coverage exceeds the minimum requirements

  • Guaranteed-issue errors and omissions insurance

Cons

  • Not a carrier itself

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’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.

Best for: Errors and omissions for real estate agents and realtors that satisfies state requirements 

Average cost: $53 per month

Our rating: 8/10




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