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Real Estate Appraiser Insurance: Cost & Quotes From $30/mo

Table of contents
1. General Liability Insurance for Real Estate Appraisers1.1. Add-Ons of General Liability Insurance for Real Estate Appraisers1.2. Coverage Limits of General Liability Insurance for Real Estate Appraisers1.3. What Limitations Do I Need To Look Out for on My General Liability Insurance?1.4. What Am I Risking by Not Getting General Liability Insurance?2. Errors and Omissions Insurance for Real Estate Appraisers2.1. Add-Ons of Errors and Omissions Insurance for Real Estate Appraisers2.2. Coverage Limits of Errors and Omissions Insurance for Real Estate Appraisers2.3. Do Real Estate Appraisers Need Errors and Omissions Insurance?3. Commercial Property Insurance for Real Estate Appraisers3.1. Add-Ons of Commercial Property Insurance for Real Estate Appraisers3.2. Coverage Limits of Commercial Property Insurance for Real Estate Appraisers4. Business Owner’s Policy for Real Estate Appraisers4.1. Add-Ons of Business Owner’s Policy for Real Estate Appraisers4.2. Coverage Limits of Business Owner’s Policy for Real Estate Appraisers4.3. Will My BOP Support Adding Non-Owned Auto Insurance to It?5. Tools and Equipment Insurance for Real Estate Appraisers5.1. Add-Ons of Tools and Equipment Insurance for Real Estate Appraisers5.2. Coverage Limits of Tools and Equipment Insurance for Real Estate Appraisers6. Commercial Auto Insurance for Real Estate Appraisers7. Add-Ons of Commercial Auto Insurance for Real Estate Appraisers7.1. Coverage Limits of Commercial Auto Insurance for Real Estate Appraisers7.2. Will My Commercial Auto Policy Change if I Hire Independent Contractors in My Business?8. Excess Liability Insurance for Real Estate Appraisers8.1. Coverage Limits of Excess Liability Insurance for Real Estate Appraisers8.2. Can I Use Excess Liability to Cover Multiple Policies at Once?8.3. Does My Real Estate Appraiser Business Need Excess Liability Insurance?9. Workers Compensation Insurance for Real Estate Appraisers9.1. Can Workers Compensation Insurance Protect the Business Owner From Liability?10. Real Estate Appraiser  Insurance Cost11. Best Real Estate Appraiser Insurance Companies11.1. NEXT Real Estate Appraiser Insurance 11.1.1. Pros11.1.2. Cons11.2. The Hartford Real Estate Appraiser Insurance 11.2.1. Pros11.2.2. Cons11.3. CoverWallet Real Estate Appraiser Insurance 11.3.1. Pros11.3.2. Cons11.4. Tivly Real Estate Appraiser Insurance 11.4.1. Pros11.4.2. Cons11.5. Thimble Real Estate Appraiser Insurance 11.5.1. Pros11.5.2. Cons11.6. Hiscox Real Estate Appraiser Insurance 11.6.1. Pros11.6.2. Cons

A real estate appraiser determines the market value of commercial or residential real estate property. The job has its risks. You can get sued for inaccurate information or misrepresentation by the real estate investor. Property owners can also file a claim for violation of good faith. Last but not least, your employees can get hurt while visiting a real estate development project. 

To protect your business, you must get a comprehensive real estate appraiser insurance policy. This article will detail some of the critical components and point you in the right direction to purchase a policy.

General Liability Insurance for Real Estate Appraisers


CoverWalletNEXT (Best)ThimbleHiscoxThe 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?NoYesYesCan be includedCan be included
Can you get a certificate of insurance online?YesYesYesYesYes
Name additional insureds?YesYes
YesYesYes
Deductible$0$0$0$0$0


Your real estate appraiser insurance package will not be complete without a general liability insurance policy. This policy protects your real estate appraising business from third-party property and injury claims. Example situations include:

  • A customer walks into your office but trips over some misplaced clutter and injurie their back

  • While assisting a representative from a company that has hired you, you accidentally damage some of their business property


Add-Ons of General Liability Insurance for Real Estate Appraisers

Real estate appraisers will want to look out for helpful add-ons to their general liability insurance, such as:

  • Hired and non-owned auto–Covers vehicles the business does not directly own, like rentals, leases, and employee vehicles used for business purposes

  • Cyber liability–Provides coverage for your real estate appraising business in the event of a data breach or costly cyber attack that might harm your business or its customers


Coverage Limits of General Liability Insurance for Real Estate Appraisers

The coverage limits for real estate appraisers will generally be $1 million in occurrence and $2 million in aggregate for their general liability insurance.


What Limitations Do I Need To Look Out for on My General Liability Insurance?

General liability insurance does not cover all risks. Important exclusions to note are employee injury, auto liability and accidents, and damage to your property.


What Am I Risking by Not Getting General Liability Insurance?

If you avoid purchasing general liability insurance, you could be hit by costly legal settlements, judgments, and lawyers' fees. Lawsuits covered by general liability insurance could potentially bankrupt your business.


Errors and Omissions Insurance for Real Estate Appraisers


CoverWalletNEXTThimble (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
HIPAA coverage included?NoNoNoNoNo
Sexual misconduct coverage included?NoNoNoNoCan be included
License defense coverage included?NoNoNoNoCan be included
Deductible$500$500$500$50/$10,000$500


Your real estate appraiser e&o insurance will cover incidents of negligence, mistakes, and oversights that can financially burden your business. Real estate appraiser errors and omissions insurance protects you from court fees, court judgments, lawsuit costs, and other related expenses. Some examples where errors and omissions insurance can help include:

  • You neglect to properly check if a piece of property meets safety regulations, causing injury to someone who moves in.

  • A mistake on a property fact sheet causes a client to lose out on an investment


Add-Ons of Errors and Omissions Insurance for Real Estate Appraisers

  • Excess liability–Adds additional coverage to an already existing errors and omissions insurance policy that protects you against heavy losses in an unexpected situation

  • Media liability–Protects your business against potential liability claims that result from your business's published content in places like the internet, social media, and other sources


Coverage Limits of Errors and Omissions Insurance for Real Estate Appraisers

Real estate appraiser e and o insurance will have a coverage limit of $1 million in occurrence and $1 million in aggregate. If you need higher coverage, you should ask about higher limits. Some companies extend coverage up to $2 million-$4 million.


Do Real Estate Appraisers Need Errors and Omissions Insurance?

Yes, e and o insurance for real estate appraisers may not be legally required for your business, but you will need it. Since a real estate appraiser's judgments on a property can drastically affect its price, any mistakes can have the potential for massive financial damage.

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Commercial Property Insurance for Real Estate Appraisers


CoverWalletNEXT (Best)ThimbleThe HartfordHiscox
Building coverage limit (minimum)$50,000$320,000$25,000/$500,000$75,000$25,000
Contents coverage limit (minimum)$50,000$35,000$25,000/$500,000$75,000$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


Real estate appraiser commercial property insurance protects your commercial property against damage or destruction. Your business property and its contents get protected from natural events, theft, and vandalism. Examples include:

  • A thief breaks into your real estate appraiser business office and steals your electronics

  • A thunderstorm strikes your building and causes property damage that you need to repair


Add-Ons of Commercial Property Insurance for Real Estate Appraisers

  • Equipment breakdown coverage–This protects your business equipment from internal physical damage resulting from incidents like mechanical breakdowns and power outages

  • Outdoor sign coverage–Protects your business signs, which exist outside of your business property, from physical damage


Coverage Limits of Commercial Property Insurance for Real Estate Appraisers

Commercial property insurance for real estate appraisers offers coverage limits between $20,000 and $60,000.